Reference no: EM13866612
Powder Corporation declared, but had not yet paid, dividends on the 10,000 shares of 6%, $10 par value cumulative preferred stock it had outstanding for the year. The weighted average number of common shares outstanding and net income for the year were 50,000 shares and $90,000, respectively. Earnings per share equals:
Ocean view Wholesale Merchandise had 20,000 shares of 6%, $20 par value preferred stock and 15,000 shares of $25 par value common stock outstanding throughout 2014. Assuming that total dividends declared in 2014 were $25,000 and that the preferred stock is not cumulative, common stockholders should receive total 2014 dividends of:
Ocean view Wholesale Merchandise had 20,000 shares of 6%, $20 par value preferred stock and 15,000 shares of $25 par value common stock outstanding throughout 2014. Assuming that total dividends declared in 2014 was $80,000 and that the preferred stock is cumulative with two years' preferred dividends in arrears on December 31, 2013, the preferred stockholders should receive 2014 dividends totaling:
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Determine interest expense and to amortize debt issue costs
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Appropriation has sufficient funding to pay for obligation
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Number of common shares outstanding and net income
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Prepare the journal entry to record the issuance of bonds
: Cupola Fan Corporation issued 12%, $580,000, 10-year bonds for $552,000 on June 30, 2013. Debt issue costs were $3,300. Interest is paid semiannually on December 31 and June 30. Prepare the journal entry to record the issuance of the bonds. Prepare t..
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