1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
hjlf
3 years ago
10

The following stockholders' equity accounts were taken from the balance sheet of LAH Corporation as of December 31, 2019 Common

stock, $10 par value, 1,000,000 shares authorized, 400,000 shares issued and outstanding $4,000,000 Preferred stock, $100 par value, 7% cumulative, 50,000 authorized, ________? shares issued and outstanding 3,000,000 Paid in capital in excess of par - common 840,000 Paid in capital in excess of par - preferred 150,000 Retained earnings 4,260,000 Dividends in arrears $105,000 Answer the following questions: 1. How many shares of preferred stock are issued and outstanding? 2. What is the average issue price per share of the common stock? What is the book value per share of the common stock as of 12/31/19? If LAH declares dividends totaling $450,000 next year how much of the dividend will be paid to common stockholders?
Business
1 answer:
Blizzard [7]3 years ago
4 0

Answer:

1) 30,000 shares issued

2) Common stock average price: 12.1 dollars

   book value: $ 22.49

3)  135,000 dividends to common stockholders

Explanation:

1) preferred stock equity $ 3,000,000 / $ 100 par value = 30,000 shares issued

2)

common stock: 400,000 issued x $10 face value : 4,000,000

additional paid-in in excess of par value:                    840,000

                                                total paid-in                4,840,000

average common stock price: $ 4,840,000/400,000 shares = 12.1

on average common stock were issued at 12.1 dollars

common stock book value:

(common stock + retained earnings - preferred stock)/outstanding shares

(4,840,000 + 4,260,000 - 105,000)/ 400,000 = 22.4875

3) if 450,000 dividends are distributed:

the compamy will first pay the preferred stocks:

30,000 x $ 100 x 7% =  210,000

dividends in arrears:     105,000

 total preferred stock   315,000

bond to common stock:

450,000 declared - 315,000 preferred stock: 135,000 for common stock

You might be interested in
2-1.3 Which of the following statements about data storage is (are) true? A chart of accounts is a list of the numbers assigned
monitta

Answer:

  • A chart of accounts is a list of the numbers assigned to each general ledger account.
  • A subsidiary ledger contains detailed data for any general ledger account with many individual subaccounts.

Explanation:

A chart of accounts contains a list of all the numbers assigned to balance sheet and income statement accounts. The account numbers allow transaction data to be coded, classified, and entered into the proper accounts.

Subsidiary ledger s are used to record details information for a general ledger account that contains many subaccounts, like accounts receivable (at last 1 subaccount per client), inventory (at least 1 subaccount per product) and accounts payable (at least 1 subaccount per creditor).

4 0
3 years ago
Read 2 more answers
"At Artistic Floral Creations, the non-managerial employees all receive the same pay increase every year. Usually this increase
vladimir1956 [14]

Answer:

Artistic Floral Creations has a entitlement philosophy of compensation.

Explanation:

A compensation philosophy is simply refers to a formal statement which documents a company's position about the compensation of its employees.

It is an explanation of the reason for employee payment and it creates a framework for consistency. Employers use their compensation philosophy to attract, retain and motivate employees

Entitlement philosophy of compensation therefore assumes that the employees who have worked for another year in a company are entitled to pay increases, regardless of their performance differences. This action is often geared towards a higher job performance, and job satisfaction.

5 0
3 years ago
Read 2 more answers
Brief Exercise 12-8 have a carrying Ayayai Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill
blsea [12.9K]

Answer:

Explanation:

Since the fair value of the division is less than the carrying value of the division so the loss on impairment is recorded

The journal entry to record the impairment of the goodwill is shown below:

Loss on impairment A/c Dr $30,000

                       To Goodwill A/c $30,000

(Being loss on impairment is recorded)

The computation is shown below:

= Carrying value - fair value  

= $300,000 - $270,000

= $30,000

4 0
3 years ago
Enrique is giving a presentation to convince his managers that offering yoga classes at work will improve productivity because i
Ilya [14]

Answer:

a) He will ask the audience to stand and do a simple yoga pose.

Explanation:

Base on the scenario been described in the question, we saw the Enrique is given a presentation to convince his managers that offering yoga classes at work will improve productivity because it will help employees clear their minds. The aspects of his presentation that shows he wants to include kinesthetic learners is , he asked the audience to stand up and do a simple yoga pose.

Kinesthetic learning is a learning style in which learning which involves the students doing physical activities, rather than watching demonstrations or listening to lectures.

3 0
3 years ago
Read 2 more answers
Plant Away is an Oregon-based retailer and distributor of trees and shrubs. They have hundreds of smaller nurseries based around
Rashid [163]

Answer: See explanation

Explanation:

A supply chain refers to the network of people, firms, resources, technology etc that are involved in product creation and sale.

Based on the question, the unique problems that one can anticipate in the supply chain can be due unforeseeable events. For example, the uncertainties in this case can be disease of plants, bad weather, interstate regulations etc.

To remedy the problem, it's vital to have a weather forecast that's up-to-date. This can help in anticipating the challenges and then determining the best transportation routes to take.

3 0
3 years ago
Other questions:
  • Assume for Guatemala that the domestic price of coffee without international trade is higher than the world price of coffee. Thi
    7·1 answer
  • Crandle Manufacturers Inc. is approached by a potential customer to fulfill a oneminustimeminusonly special order for a product
    7·1 answer
  • The sales strategy of getting at least one additional lead from each person interviewed is called selling deeper.a. Trueb. False
    8·1 answer
  • Sea Side Enterprises is trying to predict the cost associated with producing its anchors. At a production level of​ 5,300 anchor
    10·1 answer
  • Ehrmann Data Systems is considering a project that has the following cash flow and WACC data. What is the project's MIRR? Note t
    15·1 answer
  • Government policies, access to resources, and social attitudes can either support or hinder a culture of entrepreneurship. Categ
    15·1 answer
  • Please help my time is almost up!!!
    15·1 answer
  • When selecting a mentor, which of the following should be considered? (Select all that apply)
    11·1 answer
  • If the government increases its spending when the economy is expanding, automatic stabilizers _____ the government spending mult
    7·1 answer
  • you are the coordinator of a nonprofit that distributes donated items to three local homeless shelters. what is the most efficie
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!