Dividends received through the preferred stockholders

Assignment Help Accounting Basics
Reference no: EM13157239

Luther Inc., has 2,000 shares of 6%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2011, and December 31, 2010. The board of directors declared and paid a $5,000 dividend in 2010. In 2011, $24,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2011?

Reference no: EM13157239

Questions Cloud

Reported in consolidated balance sheet : Tanner Company was acquired for cash in a transaction that created goodwill. At what amounts will the building and land be reported in the consolidated balance sheet immediately following the purchase?
Determine which is the non aqueous layer : a.) Can you be certain that the organic layer would from the upper layer? Eplain in details. b.) How could you test to determine which is the non aqueous layer? Explain in details.
What are the percentage increases in the price of food : What are the percentage increases in the price of food and in the price of clothing and what is the percentage increase in the CPI?
Find probability that eight have relief within a few minutes : A group of 12 patients are given the medicine. If the claim is true, what is the probability that 8 have relief within a few minutes?
Dividends received through the preferred stockholders : The board of directors declared and paid a $5,000 dividend in 2010. In 2011, $24,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2011?
Calculate the specific heat of a metallic element : calculate the specific heat of a metallic element if 478 J of energy are needed to raise the temp. of a 82.73 g sample from 25.0 C to 50.0 C. what is the most likely identity of the element
A competition-based pricing strategy : A competition-based pricing strategy in which all the competitors in an industry follow the pricing practices of one or more dominant firms is known as?
Recession general consequences from academic articles : Recession general consequences from academic articles or books and recession consequences from academic articles, books or UAE related official websites such as newspapers or journals
Probability of selecting ten production employee in summer : What is the probability of selecting 10 production employee at random on a hot summer day and finding that none of them are absent.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Primary-diluted earnings per share for consolidated entity

As a senior staff member of Major's accounting department, you have been asked to prepare a memo to the chief accountant that includes the computations needed to determine primary and diluted earnings per share for the consolidated entity.

  Problem regarding incurring the total costs

Despite operating at capacity, however, last year's performance was a great disappointment to the managers. In total, 10 jobs were accepted and completed, incurring the following total costs:

  Why dividends are sometimes paid out

Identify and discuss the reasons why dividends are sometimes paid out even when the funds could be better reinvested in business or when firm has to tap outside sources to pay the dividends.

  Prepare a sales budget with columns

Prepare a sales budget with columns for each region and for the company in total for the month of June.

  Implied value of each warrant

Upstate Water Company just sold a bond with 50 warrants attached. The bonds have a 20-year maturity and an annual coupon of 12%, and they were issued at their $1,000 par value. The current yield on similar straight bonds is 15%. What is the implie..

  Loss from the transaction

Blue Company sold machinery for $45,000 on December 23, 2010. The machinery had been acquired on April 1, 2008, for $49,000 and its adjusted basis was $14,200. The § 1231 gain, § 1245 recapture gain, and § 1231 loss from this transaction are:

  Reconciliation from governmental changes

Capital assets for that government cost $70 million, including land of $10 million. Depreciable assets are amortized over 20 years, on average. The reconciliation from governmental changes in fund balances to governmental activities changes in net..

  Average issue price of type of preferred stock

Compute the dividends paid per share during the third year for each of the three classes of stock. What was the average issue price of each type of preferred stock?

  Accounts payable account-creditors during the month

The accounts payable account has a beginning balance of $12,000 and we purchased $50,000 of inventory on credit during the month. The ending balance was $10,000. How much did we pay our creditors during the month.

  Which investment produces the greater after tax income

alva can earn 5% before tax interest on a corporate bond or a 4% dividend on a preferred stock. Assuming that the appreciation in value is the same, which investment produces the greater after tax income?

  Conditions for cash dividend payment

Why must preferred stock dividends be subtracted from net income in computing earnings per share? Why is common stock usually not issued at a price that is less than par value?

  Determine the amount of manufacturing overhead

Determine the amount of manufacturing overhead that would have been applied to all jobs during the period.

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