stock for 565 per share. 37. A company has 20,000 shares of 10% $30 preferred stock outstanding. In 2021 and 2022, the company does not pay a dividend. In 2023, how much does the company owe the preferred shareholders? 38. A com
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- Percy Company has 15,000 shares of common stock outstanding during all of 2019. It also has 2 convertible securities outstanding at the end of 2019. These are: 1. Convertible preferred stock: 1,000 shares of 9%, 100 par, preferred stock were issued in 2015 for 140 per share. Each share of preferred stock is convertible into 3.5 shares of common stock. The current dividends have been paid. To date, no preferred stock has been converted. 2. Convertible bonds: Bonds with a face value of 100,000 and an interest rate of 10% were issued at par on July 1, 2019. Each 1,000 bond is convertible into 35 shares of common stock. To date, no bonds have been converted. Percy earned net income of 54,000 during 2019. Its income tax rate is 30%. Required: Compute the 2019 diluted earnings per share. What earnings per share amount(s) would Percy report on its 2019 income statement?On January 1, 2019, Kittson Company had a retained earnings balance of 218,600. It is subject to a 30% corporate income tax rate. During 2019, Kittson earned net income of 67,000, and the following events occurred: 1. Cash dividends of 3 per share on 4,000 shares of common stock were declared and paid. 2. A small stock dividend was declared and issued. The dividend consisted of 600 shares of 10 par common stock. On the date of declaration, the market price of the companys common stock was 36 per share. 3. The company recalled and retired 500 shares of 100 par preferred stock. The call price was 125 per share; the stock had originally been issued for 110 per share. 4. The company discovered that it had erroneously recorded depreciation expense of 45,000 in 2018 for both financial reporting and income tax reporting. The correct depreciation for 2018 should have been 20,000. This is considered a material error. Required: 1. Prepare journal entries to record Items 1 through 4. 2. Prepare Kittsons statement of retained earnings for the year ended December 31, 2019.Skysong Company has 23,000 shares of $1 par common stock issued and outstanding. The company also has 2,300 shares of $100 par 3% cumulative preferred stock outstanding. The company did not pay the preferred dividends in 2018 or 2019. What amount of dividends must the company pay the preferred shareholders in 2020 if they wish to pay the common stockholders a dividend? Amount of dividend?
- 12. In 2024 a company has 2,300,000 outstanding shares of its 1 par value common stock outstanding. The company also has 20,000 shares of 5% $10 noncumulative preferred stock outstanding. The company paid no dividend in 2022 and 2023. If the company declares a 5.60 per share dividend, how much will go to the preferred shareholders and how much will go the common shareholders? 13. A company issues a $15,000,000 bond with a price of 102.3. Write the entry to record the bond. 14. Write the entry if the company in # 13 above sold the bond at a price of 94.3. 15. A company issued $10,000,000 bonds with a rate of 7% for 15 years. If the company recorded a $350,000 discount when they issued the bonds and they pay interest semi-annually, write the entry to record the six month interest payment.18. Gingerbread Corp had 310,000 of outstanding shares of stock on January 1, 2020. On December 31, 2020 the company issued another 90,000 shares of stock and had a total of 400,000 shares outstanding at year end. The company presented $750,000 in net income for 2020 and did not pay out any preferred dividends. What is the company earnings per share for 2020? Remember to present your EPS with a dollar sign and two decimal places. Earnings per share (EPS)39. A company started operations in 2019 with 250,000 P10 par value ordinary shares and 20,000 9% P100 par value preference shares. This capitalization did not change until 2021. The company paid dividends amounting to P150,000, P260,000 and P540,000 at the end of 2019, 2020 and 2021, respectively. If the preference shares were cumulative and non-participating, determine the dividend per ordinary share in 2021. (Round off final answer to 2 decimal places)
- On December 31, 2021, Gabriel Inc. has 100,000 common shares and 10,000, $1 no-par value preferred shares outstanding. No new shares have been issued in 2021. Dividends have been paid every year. Net income for 2021 was $528,000. For 2021, basic earnings per share would be: Question 6 options: $4.80 $5.76 $5.28 $5.18Farber Company has 24,000 shares of $1 par common stock issued and outstanding. The company also has 2,000 shares of $100 par 4% cumulative preferred stock outstanding. The company did not pay the preferred dividends in 2018 or 2019. What amount of dividends must the company pay the preferred shareholders in 2020 if they wish to pay the common stockholders a dividend?The ABC's statement of financial position shows total shareholders' equity of P3.150.000 as of December 31, 2020. What is the book value per share, assuming that the company has only one class of share capital issued consisting of 52,000 ordinary shares, including 2,000 shares reacquired, with a par value of P 10?
- On December 31, 2023, the Bennett Company had 110,000 shares of common stock issued and outstanding. On July 1, 2024, the company sold 19,000 additional shares for cash. Bennett's net income for the year ended December 31, 2024, was $610,000. During 2024, Bennett declared and paid $75,000 in cash dividends on its nonconvertible preferred stock. What is the 2024 basic earnings per share? Multiple Choice O O O $5.10 $4.86 $4.48 None of these answer choices are correct.Dedrick Inc. did not pay dividends in 2018 or 2019, even though 60,000 shares of its 7.5%, $50 par value cumulative preferred stock were outstanding during those years. The company has 900,000 shares of $2 par value common stock outstanding. Required: a. Calculate the annual dividend per share obligation on the preferred stock. (Round your answer to 2 decimal places.) b. Calculate the amount that would be received by an investor who has owned 3,100 shares of preferred stock and 29,000 shares of common stock since 2017 if a $0.40 per share dividend on the common stock is paid at the end of 2020. (Do not round intermediate calculations.) a. b. Annual dividend per share Total dividends received $ 3.75The NiceWay Corporation's statement of financial position shows the total stockholders' equity of P5,000,000 as of December 31, 2019. Required: Compute the book value per share of each class of share capital under each of the following independent assumptions: 1. The company has only one class of shares outstanding: 200,000 ordinary shares, par value P15. 2. The company has two classes of shares outstanding: 10,000 shares of P100 par preference share capital with liquidation value of P120 per share and 100,000 shares of P15 par ordinary share capital.
