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GalinKa [24]
3 years ago
14

Match each description 1 through 6 with the characteristic of preferred stock that it best describes by writing the letter of th

at characteristic in the blank next to each description.
A. Callable
B. Convertible
C. Cumulative
D. Noncumulative
E. Nonparticipating
F. Participating
_____ 1. Holders of the stock are entitled to receive current and all past dividends before common stockholders receive any dividends.
_____ 2. The issuing corporation can retire the stock by paying a prespecified price.
_____ 3. Holders of the stock can receive dividends exceeding the stated rate under certain conditions.
_____ 4. Holders of the stock are not entitled to receive dividends in excess of the stated rate.
_____ 5. Holders of this stock can exchange it for shares of common stock.
_____ 6. Holders of the stock lose any dividends that are not declared in the current year.
Business
1 answer:
artcher [175]3 years ago
7 0

Answer and Explanation:

The classification is as follows

a. In the callable, the corporation who issued could retired the stock by payoff the mentioned price

b. In the convertible, the stockholders could able to exchange for the common stock shares

c. In the cumulative, the stockholders should received the current as well as the past dividends prior to the common stockholders

d. In the non-cumulative, the stockholders should lose the dividend that not declared in the present year

e. In the non-participating, the stockholders should not received any dividend that more than the stated rate

f. In the participating, the stockholder should received any dividend that more than the stated rate

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On March 1, 20Y8, Eric Keene and Renee Wallace form a partnership. Keene agrees to invest $21,060 in cash and merchandise invent
tester [92]

Answer:

Explanation:

a. The journal entries are shown below:

Cash $21,060  

Merchandise inventory $56,290  

             To Eric Keene's Capital $77,350

(To record investment made)

Accounts receivable $17,770  

Equipment $54,190  

Cash (Liabilities - Assets) $40,820  

     To Allowance for doubtful accounts $1,950

     To Accounts payable $14,910

     To Notes payable (current) $35,970

    To Reene Wallace's capital $59,950

(Being capital contribution by Reene wallace is recorded)  

2.

<u>KEENE AND WALLACE </u>

<u> Balance Sheet </u>

<u> March 1, 20Y8</u>

Assets    

Current Assets    

Cash (21,060 + 40,820) $61,880  

Accounts Receivable Less Allowance $15,820  

Merchandise inventory $56,290  

Total current assets $133,990  

Property, plant and Equipment    

Equipment $54,190 54,190  

Total Assets   $188,180

Liabilities    

Current Liabilities    

Accounts Payable $14,910  

Notes Payable       $35,970  

Total liabilities       $50,880  

Partner's Equity    

Eric Keene's capital $77,350  

Renee Wallace's capital $59,950  

Total partner's equity  $137,300  

Total liabilities and partner's equity $188,180

7 0
3 years ago
You have an outstanding balance on your credit card of $10,000. You can pay off the balance if you make 36 monthly payments of $
iVinArrow [24]

Answer:

Our answer is attached below

Explanation:

7 0
3 years ago
Petroski Natural Dying Corporation measures its activity in terms of skeins of yarn dyed. Last month, the budgeted level of acti
algol13

Answer:

$577 Unfavorable

Explanation:

The calculation of spending variance for dye costs is shown below:-

Spending variance for dye cost = (Standard rate - Actual variable) × Actual units

= ($0.67 - $13,910 ÷ 19,900) × 19,900

= (0.67 - 0.69899) × 19,900

= $577 Unfavorable

Therefore for computing the spending variance for dye costs we simply applied the above formula.

6 0
3 years ago
Suddeth Corporation has entered into a 6 year lease for a building it will use as a warehouse. The annual payment under the leas
Ulleksa [173]

Answer:

$13,153.15

Explanation:

Present value is the sum of discounted cash flows.

Present value can be calculated using a financial calculator

Cash flow each year from year 0 to 5 = $2,468

I = 5%

PV = $13,153.15

To find the PV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

6 0
3 years ago
Speech about peer pressure​
Semmy [17]
Peer pressure is the notion of mutual friends coxing you into a rash situation and you, in a attempt to fit in, you agree to such a situation. This is bad and it’s practically impossible to avoid unless you care not for those opinions of those you hang around

Have a peer pressure filled day (jk btw lol)
6 0
3 years ago
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