Reference no: EM132847900

Question -

1. A corporation has 13,000 shares of 11%, $82 par noncumulative preferred stock outstanding and 22,000 shares of no-par common stock outstanding. At the end of the current year, the corporation declares a dividend of $186,000. How is the dividend allocated between preferred and common stockholders?

2. A corporation originally issued $5 par value common stock for $14 per share. Which of the following is included in the entry to record the purchase of 400 shares of treasury stock for $21 per share?

3. Healthy Farmer, Inc. has 48,000 shares of common stock outstanding and 2,000 shares of preferred stock outstanding. The common stock is $0.10 par value; the preferred stock is 9% noncumulative with a $100 par value. On October 15, 2025, the company declares a total dividend payment of $56,000. What is the total amount of dividends that will be paid to the common stockholders?

4. Milton, Inc. had the following transactions in? 2025, its first year of operations:

Issued 14,000 shares of common stock. Stock has par value of $0.01 per share and was issued at $31.00 per share.

Earned net income of $200,000.

Paid dividends of $8.00 per share.

At the end of 2025, what is total stockholders' equity?

Corporation declares a dividend of $1.25 per share on 17,000 shares of common stock. Which of the following is included in the entry to record the declaration?

Which of the following is included in the entry to record the issuance of 13,000 shares of $12 par value common stock at $24 per share for cash?

5. Rosiland, Inc. purchases 7,000 shares of its previously issued $3 par value common stock for $560 per share. Which of the following is the correct journal entry to record this transaction?

6. April, Inc. issued 8,000 shares of preferred stock for $520,000. The stock has a par value of $65 per share. The journal entry to record this transaction would ________.

7. Daniel Corporation had net income for 2024 of $82,000. Daniel had 7,000 shares of common stock outstanding at the beginning of the year and 17,000 shares of common stock outstanding at the end of the year. There were 11,000 shares of preferred stock outstanding all year. During? 2024, Daniel declared and paid preferred dividends of $21,000. On December 31, 2024, the market price of? Daniel's common stock is $52 per share and the market price of its preferred stock is $75 per share. What is Daniel's price/earnings ratio at December 31, 2024?