Reference no: EM132593222
Problem 1: On December 31, 2018, Adelphi Corporation has outstanding 500 shares of $100 par value, 6% cumulative and nonparticipating preferred stock, and 14,000 shares of $10 par value common stock. Preferred dividends were paid in 2016 but were not paid in 2017. During 2018, Alpha distributed $35,000 in dividends. Use this information to determine for 2018 the dollar amount of dividends that will be distributed per Common Share. Round answer to closest cent.
Problem 2: On March 1, 2019, Baltimore Corporation had 100,000 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 $20 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.
Problem 3: The Common Stock account for Baltimore Corporation on January 1, 2018 was $67,500. On July 1, 2018 Baltimore issued an additional 8,500 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 $141,000. Use this information to determine for December 31, 2018 the amount of Earnings per Share (rounded to the nearest cent).
Problem 4: For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $49,000, accounts receivable $141,000, inventories $125,000, prepaid expenses $22,000, accounts payable $95,000, and accrued expenses $69,000. Use this information to determine the Current Ratio. (Round & enter answers to one decimal place.)
Problem 5: For the FY 2018, Frederick Company had net sales of $950,000 and net income of $65,000, paid income taxes of $25,000, and had before tax interest expense of $15,000. Use this information to determine the Times Interest Earned Ratio. (Round answers to one decimal place)