Reference no: EM132446500

Questions -

Q1. On December 31, 2018, Adelphi Corporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 16,000 shares of $10 par value common stock. Preferred dividends were paid in 2016 but were not paid in 2017. During 2018, Alpha distributed $30,000 in dividends. Use this information to determine for 2018 the dollar amount of dividends that will be distributed per Common Share.

Q2. On March 1, 2019, Baltimore Corporation had 95,000 shares of common stock outstanding with a par value of $5 per share. On March 1, Baltimore Corporation authorized a 15% stock dividend when the market value was $14 per share. Use this information to calculate the amount either (debited) or credited to retained earnings. Enter as a negative number if retained earnings is debited and a positive number if retained earnings is credited.

Q3. The Common Stock account for Baltimore Corporation on January 1, 2018 was $55,000. On July 1, 2018 Baltimore issued an additional 7,000 shares of common stock. The Common Stock is $5 par. There was neither Preferred Stock nor any Treasury Stock. Paid in Capital Excess to par Common Stock was $20,000 on January 1 and $40,000 on July 2 and net income was $110,500. Use this information to determine for December 31, 2018 the amount of Earnings per Share.

Q4. For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $45,000, accounts receivable $145,000, inventories $96,000, prepaid expenses $17,000, accounts payable $74,000, and accrued expenses $62,000. Use this information to determine the Current Ratio.

Q5. For the FY 2018, Frederick Company had net sales of $800,000 and net income of $55,000, paid income taxes of $27,500, and had before tax interest expense of $12,500. Use this information to determine the Times Interest Earned Ratio.