Calculate the amount to be paid to each group

Assignment Help Financial Accounting
Reference no: EM132852831

Question - Following the shareholders section of the balance sheet of Wyatt Company as at October 31, 2020:

Preferred shares, cumulative and fully participating, authorized 122,000 shares, issued 35,000 shares $800,000

Common shares, authorized 500,000 shares, issued 83,000 shares $1.200.000

Total contributed capital $2.000.000

Retained earnings 1.857.500

Total shareholders ' equity $3.857.500

The preferred shares pay dividends of $1.10 per share. No dividends were declared or paid during the year ended October 31, 2020. The company declared a dividend of $ 175,000 on October 4, 2021, to be distributed on October 31, 2021 to the shareholders of record on October 22, 2021. No shares have been issued or repurchased since October 31, 2020.

Required - Calculate the amount of the $175,000 to be paid to each group of the shareholders.

Reference no: EM132852831

Questions Cloud

Should the business proposal be accepted : Currently it produces and sells 15 000 units to its regular customers for $20. Should the business proposal be accepted? Show all calculations
Demonstration of effective leadership : How using time-series analyses in decision-making strategies is a demonstration of effective leadership.
What is the market price of the bond : The par value of the bond is $1,000. If required market rates fall to 5 percent, what is the market price of the bond
What is the probability that the device will not fail : If any one component fails, the device will fail. If the components fail independently of one another, what is the probability that the device will not fail in
Calculate the amount to be paid to each group : No shares have been issued or repurchased since October 31, 2020. Calculate the amount of the $175,000 to be paid to each group of the shareholders
What is the systolic blood pressure that cuts off : What is the systolic blood pressure that cuts off the top 2.5% of adults in the USA?
Differences among mean distances for the eight batters : Four brands of baseball bats were tested to determine which bat allowed hitters to hit a baseball farthest. Eight different batters were thrown 25 pitches
What cost per equivalent unit would the manager report : If the department spent $935,765 on direct materials, using the weighted-average method, what cost per equivalent unit would the manager report per square metre
Calculate the mass of air that escapes : If the valve allows air to escape when the its pressure exceeds 10 times that of the atmosphere, calculate the mass of air that escapes.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd