Calculate the dividends per share on each class of stock

Assignment Help Financial Accounting

Reference no: EM13863484

Wallace Inc., a developer of radiology equipment, has stock outstanding as follows: 30,000 shares of cumulative preferred 2% stock, $90 par and 125,000 shares of $10 par common. During its first four years of operations, the following amounts were distributed as dividends: First year, $24,000; second year, $81,000; third year, $92,000; fourth year, $139,000. Calculate the dividends per share on each class of stock for each of the four years.

Reference no: EM13863484

Questions Cloud

Weighted-average process costing : Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 70..

Prepare the necessary journal entry and entries : On 2/1/16, you issue a 10-year $100,000 bond paying interest quarterly from the date of issue. The market rate of interest has increased to 6% and the stated rate is 5%. Prepare the necessary journal entry/entries for July 31, 2016

Bond paying interest quarterly from the date of issue : On 2/1/16, you issue a 10-year $100,000 bond paying interest quarterly from the date of issue. The market rate of interest has increased to 6% and the stated rate is 5%. Prepare the necessary journal entry/entries for July 31, 2016

Record the necessary entries in the journal entry worksheet : Record the necessary entries in the Journal Entry Worksheet below. Fighting Irish Incorporated pays its employees $5,600 every two weeks ($400/day). The current two-week pay period ends on December 28, 2015, and employees are paid $5,600. Record the ..

Calculate the dividends per share on each class of stock : Wallace Inc., a developer of radiology equipment, has stock outstanding as follows: 30,000 shares of cumulative preferred 2% stock, $90 par and 125,000 shares of $10 par common. During its first four years of operations, the following amounts were di..

Disregard effects of corrections on income tax : The first audit of the books of Bruce Gingrich Company was made for the year ended December 31, 2015. In examining the books, the auditor found that certain items had been overlooked or incorrectly handled in the last 3 years. Prepare the journal ent..

Net income is positive-preferred by an existing shareholder : If net income is positive. Which of the below would likely be most preferred by an existing shareholder of a company?

Equipment is expected to be used in operations : Beaver Construction purchases new equipment for $50,400 cash on April 1, 2015. At the time of purchase, the equipment is expected to be used in operations for seven years (84 months) and have no resale or scrap value at the end. Beaver Construction p..

Income statement using absorption costing : Yashar, Inc., planned and actually manufactured 400.000 units of its single product in 2015, its first year of operation. Variable manufacturing cost was 40 USD per unit produced. Variable operating (nonmanufacturing) cost was 20 USD per unit sold. P..

User Account

All Pages