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company did not pay the preferred dividends Parker Company has 24,000 shares of $1 par common stock issued and outstanding. The company also has 2,000 shares of $100 par 4% cumulative preferred stock outstanding. The company did not pay the preferred dividends in 2012 or 2013. What amount of dividends must the company pay the preferred shareholders in 2014 if they wish to pay the common stockholders a dividend? Business Manage ...

Other / Other 22 Mar 2016

common stock issued and outstanding On October 10, the board of directors of Pattern Corporation declared a 10% stock dividend. On October 10, the company had 10,000 shares of $1 par common stock issued and outstanding with a market price of $16 per share. The stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend. ...

Other / Other 22 Mar 2016

shares of common stock with a stated value Wise Company had the following transactions. 1. Issued 5,000 shares of common stock with a stated value of $10 for $130,000. 2. Issued 2,000 shares of $100 par preferred stock at $108 for cash. Instructions Prepare the journal entries to record the above stock transactions. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Bu ...

Other / Other 22 Mar 2016

Journalize the transaction. On February 1, Barton Corporation issued 5,000 shares of its $20 par value preferred stock for $26 per share. Instructions Journalize the transaction. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help ...

Other / Other 22 Mar 2016

dividend is payable to shareholders of record On November 27, the board of directors of Armstrong Company declared a $.60 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Armstrong has 25,500 shares of $1 par common stock outstanding at November 27. Journalize the entries needed on the declaration and payment dates. Business Management Assignment Help, Business Management Home ...

Other / Other 22 Mar 2016

the company has the following stock transactions Domaine Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2012, the company has the following stock transactions. Jan. 15 Issued 400,000 shares of stock at $7 per share. Sept. 5 Purchased 30,000 shares of common stock for the treasury at $9 per share. Instructions Journalize the transactions for Domaine Corporation. Business Management ...

Other / Other 22 Mar 2016

Journalize the issuance of the stock On July 6, Clayton Corporation issued 2,000 shares of its $1.50 par common stock. The market price of the stock on that date was $18 per share. Journalize the issuance of the stock. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help ...

Other / Other 22 Mar 2016

effects of the declaration of a cash dividend 1. Which of the following is not a significant date with respect to dividends? a. The declaration date b. The incorporation date c. The record date d. The payment date 2. On the dividend record date, a. a dividend becomes a current obligation. b. no entry is required. c. an entry may be required if it is a stock dividend. d. Dividends Payable is debited. 3. Which of th ...

Other / Other 22 Mar 2016

common stock is issued for services or non-cash assets 1. Which of the following is an incorrect statement about a corporation? a. A corporation is an entity separate and distinct from its owners. b. Creditors ordinarily have recourse only to corporate assets in satisfaction of their claims. c. A corporation may be formed in writing, orally, or implied. d. A corporation is subject to numerous state and federal regulations. 2. L ...

Other / Other 22 Mar 2016

cumulative effect of the declaration and payment of a cash 1. Which of the following statements about dividends is not accurate? a. Many companies declare and pay cash quarterly dividends. b. Low dividends may mean high stock returns. c. The board of directors is obligated to declare dividends. d. A legal dividend may not be a feasible one. 2. The cumulative effect of the declaration and payment of a cash dividend on a company's ...

Other / Other 22 Mar 2016