Splish Brothers Inc. s December 31, 2020 balance sheet showed the following: 6 % preferred stock, $
Question:
Splish Brothers Inc.’s December 31, 2020 balance sheet showed the following:
6% preferred stock, $10 par value, cumulative, | |
35000 shares authorized; 21000 shares issued | $ 210000 |
Common stock, $10 par value, 3,000,000 shares authorized; | |
1,950,000 shares issued, 1,920,000 shares outstanding | 19900000 |
Paid-in capital in excess of par value - preferred stock | 58000 |
Paid-in capital in excess of par value - common stock | 27700000 |
Retained earnings | 9650000 |
Treasury stock (30,000 shares) | 589000 |
Splish declared and paid a $85900 cash dividend on December 15, 2020. If the company’s dividends in arrears prior to that date were $26200, Splish's common stockholders received
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann