Reference no: EM132497145
Question 1 - On August 1, 2017, Alpha Company retired a $10,000 bond at 102. On July 31, 2017 Alpha had accrued the interest payment for $250. At the date of retirement, the unamortized discount on the bonds was $400. Use this information to determine the dollar value of Alpha Company's: (Round all dollar values to the nearest whole dollar.)
1. Gain or Loss on Retirement of Bond: enter any loss dollar & amount inside of brackets ( )
2. Cash paid to retire the bond issue
3. Amount of Interest Payable liquidated at retirement
4. Amount of Premium or Discount on Bond Payable liquidated at retirement
Question 2 - On December 31, 2015, Alpha Corporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 20,000 shares of $10 par value common stock. No dividends were paid in 2015. During 2016, Alpha distributed $40,000 in dividends. Use this information to determine for the 2016 the dollar amount of dividends that will be distributed to:
1. Preferred Stock
2. Common Stock