Question 8 Your Corporation had 50,000 shares of $3 par value common stock authorized, 30,000 shares issued and 20,000 shares outstanding, when the board of directors declared a cash dividend of $1.50 per share. What is the dollar amount of the cash dividend? $90,000 $45,000 $30,000 $28,000 $60,000
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Question 8
Your Corporation had 50,000 shares of $3 par value common stock authorized, 30,000 shares issued and 20,000 shares outstanding, when the board of directors declared a cash dividend of $1.50 per share. What is the dollar amount of the cash dividend?
$90,000
$45,000
$30,000
$28,000
$60,000
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- Question 9 of 19 The records of Alamko Corporation showed the following data: Ordinary share capital, par P10, authorised 1,000,000 shares, issued 600,000 6,000,000 Share Premium 300,000 Retained Earnings 3,000,000 The Board of Directors declared a 20% cash dividend. The entry to record the payment is Select the correct response: Retained Earnings 600,000 Dividends Payable 600,000 Dividends Payable 1,200,000 Cash 1,200,000 Dividends Payable 600,000 Cash 600,000 Retained Earnings 1,200,000 Dividends Payable 1,200,000QUESTION 3 Huxley Company has 119,526 shares of common stock authorized, 158,963 issued, and 79,891 shares of treasury stock. The company's board of directors declares a dividend of $0.8 per share of common stock. What is the total amount of the dividend that will be paid? Round your answer to the nearest dollarQUESTION 8 Kaldi Company has 20.000 shares of $10 par value, 5% cumulative preferred stock and 200,000 shares of $20 par value common stock outstanding. The company paid total cash dividends of $8,000 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is: OA S10.000. O B. $12,000. OC. $8.000. O D. $2.000.
- QUESTION 4 Ukhwah Corporation has 100,000 shares issued including 10,000 shares of treasury shares. On October 15, the corporation’s board of directors declared a cash dividend of RM0.50 per share payable on 15 November to shareholders of records on 1 November. Record these events using T accounts.Question 10 of 19 Fill in the blanks: The following is the abstract of the shareholders' equity of Shami Corporation before the declaration of cash dividends. 15% Preference share capital, par P50, 40,000 shares ail issued 2,000,000 and outstanding Ordinary Share Capital, P25 par, 100,000 shares all issued and outstanding 1,000,000 Retained Earnings 6,000,000 The Board declared dividends of P3,000,000. No dividends were distributed in the past 2 years. Direction: Determine how much dividends per share the preference and ordinary shareholders will receive if the preference shares is cumulative and participating. Note: Round-off your answer up to 2 decimal places. If your answer is 12.3, write 12.30; if your answer is 12, write 12.00 1. Dividend per share - PS: 2. Dividend per share - OS: < PreviousProblem 10-04 Firm A had the following selected items on its balance sheet: Cash $ 27,000,000 Common stock ($40 par; 2,000,000 shares outstanding) 80,000,000 Additional paid-in capital 12,000,000 Retained earnings 64,000,000 How would each of these accounts appear after: a cash dividend of $1.5 per share? Round the number of shares outstanding to the nearest whole number and the other answers to the nearest dollar. a 7 percent stock dividend (fair market value is $80 per share)? Use the original balance sheet from the problem statement. Round the number of shares outstanding to the nearest whole number and the other answers to the nearest dollar. a one-for-two reverse split? Use the original balance sheet from the problem statement. Round the number of shares outstanding to the nearest whole number and the other answers to the nearest dollar.
- PROBLEM 3: EXERCISES 1. Dinakdakan Co. declared P50 cash dividends per share. On the date of declaration, Dinakdakan Co.'s equity was as follows: 1,600,000 Share capital, P100 par Subscribed share capital Share premium Retained earnings vib 440,000 200,000 908,000 (288,000) 140,000 Treasury shares, P120 cost Other components of equity Total shareholders' equity 3,000,000-Selected stock transactions Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Diamondback Welding & Fabrication at the beginning of the current year: Preferred 2% Stock, $200 par (90,000 shares authorized, 45,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $20 par (800,000 shares authorized, 210,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 48,000 shares of treasury common for $21 per share. b. Sold 24,000 shares of treasury common for $24 per share. c. Issued 23,000 shares of preferred 2% stock at $217. d. Issued 80,000 shares of common stock at $23, receiving cash. e. Sold 16,000 shares of treasury common for $19 per share. f. Declared cash dividends of $4.00 per…Question 6 A firm’s balance sheet has the following entries: Cash $10,000,000 Total Liabilities $30,000,000 Common Stock ($5 par; 2,000,000 shares outstanding) $10,000,000 Additional Paid-In-Capital $3,000,000 Retained Earnings $42,000,000 What will be each of these balance sheet entries after: A three-for-one stock split? A $1.25 share cash dividend? A 10 percent stock dividend (current price of the stock is $15 per share)?
- QUESTION 2 Klug Corporation reported the following information at December 31: Preferred stock, $10 par, 10,000 shares authorized, issued, and outstanding; cumulative; nonparticipating; callable at par value $ 100,000 Common stock, $1 par, 500,000 shares authorized 100,000 Additional paid-in capital - Common 25,000 Retained earnings 75,000 Total stockholders' equity $300,000 The total contributed capital is: A. $225,000 B. $ 75,000 C. $175,000 D. $ 25,000Problem 6: Treasury Shares year 20x1: Valientes Corporation reported the shareholders. Equity at the beginning of the Ordinary share, P10 par, outstanding 225,000 shares Share Premium Retained Earnings 2,250,000 1,500,000 2,000,000 During the year, the entity had the following treasury shares transactions: Acquired 10,000 treasury shares for P500,000. Sold 5,000 treasury shares at P60 per share - Sold 2,000 treasury shares at P45 per share. Required: a. Prepare the journal entries b. Prepare the shareholders' equity at the end of the yearQuestion 4 A corporation sold 16,000 shares of its $11 par value common stock at a cash price of $10 per share The entry to record thes transacion wout ncude O Acredit to Common Stock for $16.000 O Acredit to Common Stock for $176,000 O Acredit to Common Stock for $160,000 O Acredit to Common Stock for $17,000
