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
Gre4nikov [31]
2 years ago
11

A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of 10%, $100 par, cu

mulative preferred stock and 50,000 shares of $10 par common stock. The amounts distributed as dividends follow. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. Preferred Common Year Dividends Total Per Share Total Per Share1 $10,000 2 25,000 3 60,000
Business
1 answer:
ad-work [718]2 years ago
6 0

Answer:

See the attached photo for the completed the schedule.

Explanation:

Note: See the attached photo for the completed the schedule.

In the attach excel file, the following formulae and calculations are used:

Peferred stock dividend per share = Total cumulative preferred stock dividend paid in a year / Number of cumulative preferred shares

Common stock dividend per share = Total common stock dividend paid in a year / Number of common shares

Total cumulative preferred stock dividend = Number of cumulative preferred stock * Par value * Dividend rate = 2,500 * $100 * 10% =  2,500 * $100 * 10% = $25,000

Outstanding cumulative preferred stock dividend in Year 1 = Total cumulative preferred stock dividend - Total cumulative preferred stock dividend paid in Year 1 = $25,000 - $10,000 = $15,000

Outstanding cumulative preferred stock dividend in Year 2 = Outstanding cumulative preferred stock dividend in Year 1 = $15,000

Total cumulative preferred stock dividend paid in Year 3 = Total cumulative preferred stock dividend + Outstanding cumulative preferred stock dividend in Year 2 = $25,000 + $15,000 = $40,000

Total common stock dividend paid in Year 3 = Dividend distributed in Year 3 - Total cumulative preferred stock dividend paid in Year 3 = $60,000 - $40,000 = $20,000

You might be interested in
3 Points
tangare [24]

Answer:

C - An online boutique

Explanation:

E-commerce refers to commercial transactions that are done online through the internet. This implies that whenever we purchase and sell something through the Internet, you are concerned with e-commerce. There are multiple ways to list e-commerce websites.we can classify them according to the commodities or services that they sell, the people that they transact with, or even the platforms on which they work.

An online boutique is an example of E-commerce because it is being done through the internet.

6 0
3 years ago
In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to wh
kobusy [5.1K]

Answer:

Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory – Ending work in process inventory

Explanation:

Cost of goods sold is the total direct costs of producing the goods sold by a company.

Cost of goods sold = cost of direct materials + cost of direct labour + Manufacturing Overhead  + Beginning work in process inventory – Ending work in process inventory

7 0
3 years ago
Pettit Company reports net income of $90,000 in 2019. However, ending inven- tory was understated $7,000. What is the correct ne
zimovet [89]

Answer:

<em>a)Corrected net income= $97,000</em>

<em>b) Total assets figure is understated.</em>

Explanation:

<em>To arrive at the net income, cost of goods sold is usually deducted from the sales revenue. An cost of sold is determined by subtracting the value of inventory. So an understated inventory would mean an overstated </em><em>cost of goods sold </em><em>and </em><em>understated net income</em>

<em>Correct net income = 90,000 + 7,000</em>

<em>                                 = $97,000</em>

<em>Inventory is part of current assets s reported in the balance sheet . Therefore, if inventory is understated it implies that the current assets figure is understated and therefore the</em><em> total assets figure is understated.</em>

<em />

8 0
3 years ago
Businesses are using​ ________ development to create applications for shopping​ carts, user​ authentication, search​ engines, an
Elena-2011 [213]

Answer:

application development

Explanation:

Application development refers to the process of creating software that can perform specific tasks that a business requires. This software can range from applications that perform specific tasks to computer software that is used to manage major parts of the business. E.g. sales reports, automation processes, etc.

8 0
2 years ago
Assume a fixed cost for a process of $15,000. The variable cost to produce each unit of product is $10, and the selling price fo
Stels [109]

Answer:

1,000 units

Explanation:

The break even point refers to the number of units of a product a company would sell such that the company's sales is equal to the total cost.

The total cost includes the fixed and variable costs. As such, at break even point, net profit is zero.

Let the number of units be G

25G = 10G + $15,000

15G = $15,000

G = 1000 units

The number of units that has to be produced and sold to break even is 1,000 units.

6 0
2 years ago
Other questions:
  • Use information from the Washington Post article Why We've Been Hugely Underestimating the Overfishing of the Oceans to determin
    9·1 answer
  • You have been asked to analyze the bids for 200 polished disks used in solar panels. These bids have been submitted by three sup
    5·1 answer
  • Madison Corporation purchases an investment in Lake Geneva, Inc. at a purchase price of $10 million cash, representing 40% of th
    14·1 answer
  • The law of diminishing marginal utility says that as you consume more of something, the satisfaction that you get from each addi
    8·2 answers
  • Who is most likely to have claimed that "As the client becomes more self-aware, more self-acceptant, less defensive and more ope
    11·1 answer
  • A,B,C, or D on 8-10__________
    7·1 answer
  • Net income for the year for Carrie, Inc. was $750,000, but the statement of cash flows reports that net cash provided by operati
    6·1 answer
  • One question you can expect to be asked during an interview is _____.
    11·2 answers
  • Alex has accepted an IT position at a new company, and will be leaving her current job in the IT department of a large company.
    12·1 answer
  • the term deficit is used to refer to a debit balance in which of the following accounts of a corporation? a.treasury stock b.ret
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!