Reference no: EM132937087
Cardinals Inc. has the following shares outstanding:
40,000, $ 0.80, no par value preferred shares $ 400,000
60,000 no par value common shares $ 600,000
All shares were sold for $ 10 each.
No dividends have been declared since December 31, 2017. It is now December 31, 2020, and the board of directors wants to distribute $ 204,000 in dividends.
Instructions
Problem 1: Calculate how much the preferred and common shareholders will receive under each of the following assumptions:
a) The preferred is cumulative and participating to 12% total.
b) The preferred is cumulative and participating to $1.00 per share.
|
Prepare the necessary entries from january to february
: Prepare the necessary entries from January 1, 2020, to February 1, 2022, for the following events. If no entry is needed, write "No recording necessary."
|
|
How much interest was paid
: A loan was repaid in 7.25 years by end-of month monthly payments of $472.00. If interest was 6.12% compounded monthly, how much interest was paid
|
|
Solve weighted average number of common shares outstanding
: On January 1, 2020, Calculate the weighted average number of common shares outstanding to be used in calculating earnings per share for 2020.
|
|
What is the loss to be recognized on the transfer
: The factor retained 8% for sales adjustments and charged P300,000 as a financing fee. What is the loss to be recognized on the transfer
|
|
Find how much the common shareholders will receive
: 40,000, $ 0.80, no par value preferred shares $ 400,000. Calculate how much the preferred and common shareholders will receive
|
|
Prepare the entry to record change in the value of contract
: Prepare the entry to record the change in the value of the contract on August 31, 202. On August 25, 2020, Mariners Inc. entered into a forward contract
|
|
What is the tax shield resulting
: A project will incur $600 in shutdown costs the year after the completion of the project. The tax rate is 40%. What is the tax shield resulting
|
|
Explain to the evp the purpose and nature of entering
: Prepare a short memo, succinctly explain to the EVP the purpose and nature of entering into a forward contract of foreign exchange.
|
|
Make journal entries to record transactions of rangers ltd
: Rangers Ltd, Prepare the journal entries to record the above transactions on April 1, 2021, and any subsequent adjusting entries in April 2021, if any.
|