Question

Biyama Corp. has two classes of stock: 5%, $100 par value preferred (authorized 10,000 shares) and $0.50 par value common (authorized 700,000 shares). At the beginning of 2009, the company had issued and outstanding 6,500 share of preferred and 360,000 shares of common. The preferred stock had all been issued at par value and the common stock had been issued at an average price of $7.80 per share. The company’s Retained Earnings on January 1, 2009 was $738,400.During 2009, Biyama had the following transactions:
• Issued 4,000 shares of common stock in exchange for a building with a list price of $80,000. The common stock had sold on the NYSE the previous day for $18 per share.
• Bought 300 shares of common stock for $21 per share.
• Sold 100 shares of the previously purchased common stock for $23 per share.
• Declared a total cash dividend of $53,800.
• Had net income for 2009 of $121,650.
Required:
(a) Prepare a statement of stockholders’ equity for Biyama Corp. for 2009. The additional paid-in capital for common and treasury stock may be combined.
(b) Determine the amount of cash dividend paid to preferred stockholders and to common stockholders in 2009.


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  • CreatedMarch 27, 2015
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