Sea Horse Inc., a software development firm, has stock outstanding as follows: 80,000 shares of 1% preferred stock of $15 par, and 200,000 shares of $65 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $4,000; second year, $10,400; third year, $40,000; fourth year, $90,000. Calculate the dividends per share on each class of stock for each of the four years.
Answer to relevant QuestionsOn January 29, Quality Marble Inc., a marble contractor, issued for cash 75,000 shares of $10 par common stock at $23, and on May 31, it issued for cash 100,000 shares of $4 par preferred stock at $6.a. Illustrate the ...The dates of importance in connection with a cash dividend declared and paid of $55,350 on a corporation’s common stock are February 6, March 9, and April 8. Illustrate the effects on the accounts and financial statements ...Vaga Optics produces medical lasers for use in hospitals. The accounts and their balances appear in the ledger of Vaga Optics on December 31 of the current year as follows:Preferred 2% Stock, $120 par (50,000 shares ...Office Outfitters Inc., which uses a perpetual inventory system, experienced a normal inventory shrinkage of $3,750. What accounts would be increased and decreased to record the adjustment for the inventory shrinkage at the ...Two items are omitted in each of the following four lists of income statement data. Determine the amounts of the missing items, identifying them byletter.
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