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Problem - Windborn Company has 15,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of $10 par common stock. The following amounts were distributed as dividends:
Dividends Per Share -
20Y1 $30,000 20Y2 12,000 20Y3 45,000
Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.
Sage Company purchased a machine on July 1, 2018, for $30,520. Sage paid $218 in title fees and county property tax of $136 on the machine. The machine has an estimated useful life of 6 years with a salvage value of $3,270. Determine the depreciation..
Prepare journal entries to record the above merchandising transactions of Sheng Company, which applies the perpetual inventory system.
The fiscal year ends December 31 for Lake Hamilton Development. To provide funding for its Moonlight Bay project, LHD issued 7% bonds with a face amount of $630,000 on November 1, 2013. The bonds sold for $567,653, a price to yield the market rate of..
Find How much gain or loss will report for two transactions? During the current year, she sold the Thunderbird for $85,000 and the Honda for $25,000.
Determine Which is correct for statement of cash flow. During the year, we made a payment of long-term notes payable of $20,000
On January 1, 2014, the Accounts Receivable and the Allowance for Uncollectible Accounts for Darius Company carried balances of $20,000 and $550 respectively. During the year, the company reported $70,000 of credit sales. There was $400 of receivable..
He currently has $100,000 saved and expects to earn a return on his savings of 8% per year with annual compounding. How much must he save during each of year
Prepare the general journal entries to record the information above for transactions that occurred during the year and additional information.
If Earnings Before Interest and Taxes (EBIT) is $93,000, calculate Operating Cash Flow if Sales is $350,000, Cost of Goods Sold (COGS) is $140,000, Fixed costs is $43,000, Selling, General, Administrative Expenses (SGA) are $28,000, Depreciation is $..
On September 14, 2015, Jay purchased a passenger automobile that is used 75 percent in his accounting business. The automobile has a basis for depreciation purposes of $43,000, and Jay uses the accelerated method under MACRS. Jay does not elect to ex..
Compute the amount of gross profit recognized in 2010 and 2011. Prepare the journal entries to record the sales, cash collections and recognition of gross profit only if appropriate in the years 2010 and 2011.
Some of the transactions of Torres Company during August are listed below. Torres uses the periodic inventory method. Prepare general journal entries to enter the transactions. Prepare the adjusting entry necessary on August 31 if financial statement..
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