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sleet_krkn [62]
3 years ago
15

Prime Company began operations in January, 2019, by issuing 5,700 shares of 9%, cumulative, $65 par value preferred stock and 25

,000 shares of $8 par value common stock. Prime Company paid $26,000 of dividends in 2019, they paid $35,000 of dividends in 2020, they paid $38,000 of dividends in 2021, they paid $24,000 of dividends in 2022, and they paid dividends of $50,000 in 2023. Calculate the amount of the $50,000 dividend paid in 2023 that was paid to common stockholders.
Business
1 answer:
8090 [49]3 years ago
6 0

Answer:

Preference dividend = 9% x $65 x 5,700 shares

                                = $33,345

Dividend paid to ordinary shareholders = $50,000 - $33,345

                                                                 = $16,655

Explanation:

The dividend paid to preferred stockholders is 9% of the par value multiplied by number of preferred stock outstanding. The dividend paid to common stockholders is the difference between total dividend paid and dividend paid to preferred stock holders.

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A company has the following per unit recorded cost and replacement cost relating to its inventory:Item 1 5 units Cost $50 Market
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The reported value of this company's ending inventory if LCM is applied to individual items is $870.

<h3>What is reported value?</h3>

The value of any assets or liabilities or any such credentials, which is recorded in the books of official record for the purpose of accounting as per the standards, is known as the reported value.

The computation of the reported value in the given condition will be,

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