Reference no: EM132489314

Question 1: Bramble Corp. has 627000 shares of $10 par value common stock outstanding. During the year Bramble declared a 15% stock dividend when the market price of the stock was $45 per share. Two months later Bramble declared a $0.50 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by:

$ 360525.

$ 549000.

$4232250.

$4592775.

Question 2: Crane Company has outstanding 590000 shares of $2 par common stock and 121000 shares of no-par 6% preferred stock with a stated value of $5. The preferred stock is cumulative and nonparticipating. Dividends have been paid in every year except the past two years and the current year.

Assuming that $94000 will be distributed as a dividend in the current year, how much will the preferred stockholders receive?

$94000.

$36300.

$72600.

$32300.

Question 3: On August 5, 2018, Ivanhoe Furniture shipped 50 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set was $250 each. The cost of shipping the dining sets amounted to $1700 and was paid for by Ivanhoe Furniture. On December 30, 2018, the consignee reported the sale of 40 dining sets at $750 each. The consignee remitted payment for the amount due after deducting a 5% commission, advertising expense of $500, and installation and setup costs of $680. The total profit on units sold for the consignor is

$25620.

$27320.

$15960.

$17320.