Question: Identifying and Analyzing Financial Statement Effects of Dividends The statement of shareholders' equity of Reliable Storage Corporation for the year ended December 31, reports the

Identifying and Analyzing Financial Statement Effects of Dividends The statement of shareholders' equity of Reliable Storage Corporation for the year ended December 31, reports the following dividends paid to shareholders ($ thousands). Distributions to equity holders $259,579 $1,675,637 Preferred shares Common shares The year-end balance sheet includes the following ($ thousands except share data). Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 161,000 shares issued and outstanding $4,830,000 Common Shares, $0.10 par value, 650,000,000 shares authorized, 174,130,881 shares issued and outstanding $20,896 a. Use the financial statement effects template to indicate the effects of (a) the preferred dividend declaration and payments and (b) the common dividend declaration and payments. Note: For each account category, Indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. ($ thousands) Transaction (a) Preferred dividend payment (b) Common dividend payment Cash Cash Dividends per Share Preferred shareholders: $ Common shareholders: S Cash Asset (259,579) 1.6 x 0.009 x (1,675,637) N/A b. Determine the dividends per share for both classes of stock. N/A Note: Round your answers to two decimal places (for example, enter 67.49 for 67,48555). Noncash Assets 0- 0 - + Balance Sheet Liabilities Preferred Stock Comman Stock (173,053) * (1,675,637) * x N/A * N/A Contrib. Capital 0 0. Earned Capital Preferred Stock Comman Stock (259,579) O */A (1,675,637) * /A Revenues Income Statement 0 0v- N/A O N/A Expenses 0 + 0 In
 Identifying and Analyzing Financial Statement Effects of Dividends The statement of
shareholders' equity of Reliable Storage Corporation for the year ended December 31,

\begin{tabular}{|c|c|c|c|} \hline & & & Himoen \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline & & H4tinoco \\ \hline & & wasen \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline & & & Himoen \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline & & H4tinoco \\ \hline & & wasen \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!