Accounting for Cash Dividends, Stock Dividends, and Stock Splits Part A Part Part One Finn Corporation...

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Accounting for Cash Dividends, Stock Dividends, and Stock Splits Part A Part Part One Finn Corporation has outstanding 8,000 shares of $100 par value, 5% preferred stock, and 40,000 shares of 55 par value common stock. During its first three years in business, Finn declared no dividends in the first year, $240.000 of cash dividends in the second year, and $64,000 of cash dividends in the third year a. If the preferred stock is cumulative, determine the total amount of dividends paid to each class of stock for each of the three years Dividends on preferred shares b if the preferred stock is not cumulative, determine the total amount of dividends paid to each class of stock for each of the three years. Did on common shares Dvidends on prefered shares Part Two The stockholders' equity of Zhang Corporation at December 31 follows 5% preferred stock, $100 par value, 8,000 shares authorized, 3.200 shares issued and outstanding Common stock, 15 par value, 160.000 shares authorized: 40.000 shares issued and outstanding Paid-in capital in excess of par value-Preferred stock Paid in capital in excess of par value-Common stock Retained earnings Total stockholders equ The following transactions occurred during the following year. $320,000 200,000 32.000 240.000 524.300 $1.316.800 Apr 1 Declared and issued a 100% stock end an all outstanding shares of common stock when the market value of the stack was $11 per share Dec. 3 Declared and issued a 3% stock dividend an allutstanding shares of common stock when the market value of the stock was 37 per share Dec 31 Declared and paid a cash end of $1.20 per share on all outstanding Required Show the financial impact of each transaction using the financial statement effects template Note: For each account category, indicate the appropriate account name. Enter "NIA" for any account category that is not used for a given transaction Note indicate a decrease in an account category by including a negative sign with the amount Transaction 01 Apr 3 Declared a 100% so dudena Dec 7 Declared a 3% a dividend** Balance Sheet Cash Asset Nancash Centri Capital Capital NIA Common stock The following transactions occurred during the following year. Apr 1 Declared and issued a 100% stock dividend on all outstanding shares of common stock when the market value of the stock was $11 per share Dec. 7 Declared and issued a 3% stock dividend on all outstanding shares of common stock when the market value of the stock was $7 per share Dec 31 Declared and paid a cash dividend of $1.20 per share on all outstanding common shares Required Show the financial impact of each transaction using the financial statement effects template Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction Note Indicate a decrease in an account category by including a negative sign with the amount nd Balance Sheet Cash Asset Previous Save Answers Noncash Assets Contrib -Liabilities Capital NA NA Common stock NIA Income Statement Earned Capital Revenues Expenses Net Income Cash Common stock Treasury stack Next O Accounting for Cash Dividends, Stock Dividends, and Stock Splits Part A Part Part One Finn Corporation has outstanding 8,000 shares of $100 par value, 5% preferred stock, and 40,000 shares of 55 par value common stock. During its first three years in business, Finn declared no dividends in the first year, $240.000 of cash dividends in the second year, and $64,000 of cash dividends in the third year a. If the preferred stock is cumulative, determine the total amount of dividends paid to each class of stock for each of the three years Dividends on preferred shares b if the preferred stock is not cumulative, determine the total amount of dividends paid to each class of stock for each of the three years. Did on common shares Dvidends on prefered shares Part Two The stockholders' equity of Zhang Corporation at December 31 follows 5% preferred stock, $100 par value, 8,000 shares authorized, 3.200 shares issued and outstanding Common stock, 15 par value, 160.000 shares authorized: 40.000 shares issued and outstanding Paid-in capital in excess of par value-Preferred stock Paid in capital in excess of par value-Common stock Retained earnings Total stockholders equ The following transactions occurred during the following year. $320,000 200,000 32.000 240.000 524.300 $1.316.800 Apr 1 Declared and issued a 100% stock end an all outstanding shares of common stock when the market value of the stack was $11 per share Dec. 3 Declared and issued a 3% stock dividend an allutstanding shares of common stock when the market value of the stock was 37 per share Dec 31 Declared and paid a cash end of $1.20 per share on all outstanding Required Show the financial impact of each transaction using the financial statement effects template Note: For each account category, indicate the appropriate account name. Enter "NIA" for any account category that is not used for a given transaction Note indicate a decrease in an account category by including a negative sign with the amount Transaction 01 Apr 3 Declared a 100% so dudena Dec 7 Declared a 3% a dividend** Balance Sheet Cash Asset Nancash Centri Capital Capital NIA Common stock The following transactions occurred during the following year. Apr 1 Declared and issued a 100% stock dividend on all outstanding shares of common stock when the market value of the stock was $11 per share Dec. 7 Declared and issued a 3% stock dividend on all outstanding shares of common stock when the market value of the stock was $7 per share Dec 31 Declared and paid a cash dividend of $1.20 per share on all outstanding common shares Required Show the financial impact of each transaction using the financial statement effects template Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction Note Indicate a decrease in an account category by including a negative sign with the amount nd Balance Sheet Cash Asset Previous Save Answers Noncash Assets Contrib -Liabilities Capital NA NA Common stock NIA Income Statement Earned Capital Revenues Expenses Net Income Cash Common stock Treasury stack Next O