5 and 6

CUMULATIVE REVIEW PROBLEM: CHAPTER 12 The purpose of this problem is to provide an opportunity to review both new concepts in the cur chapter and major concepts in precious chapters. This cumulative review should assist yo integrating accounting concepts and preparing for exams e current REQUIRED: Use the following information for the six questions which follow. Ashley Corporation's ledger includes the following account balances at December 31, 2011 300,000 100,000 150,000 800,000 100,000 400,000 8,000 60,000 500,000 900,000 200,000 Accounts Payable Paid-in Capital in Excess of Par Value, Preferred Accumulated Depreciation Paid-in Capital in Excess of Par Value, Common Cash Retained Earnings Dividends Payable Treasury Stock, Common, 2,000 shares Preferred Stock, 9% $100 par value, 5,000 shares issued Bonds Payable Common Stock, $1 par value, 200,000 shares issued Compute the book value per common share assuming there are no dividends in arrears on th preferred stock (Round answer to nearest cent) 5. 6. Assuming the Preferred Stock is "Cumulative" and preferred dividends are in arrears for 2010 (last year). If a total of $240,000 of dividends are available for distribution in 2011, how much would the common shareholders receive