The stockyholder's section of the balance sheet contains such as the following . Common stock . Preferred stock .Additional paid in capital . Other accumulated comprehensive income .retained earnings It is important to understand how changes in the accounts impact the balance sheet and the financial positions. Ginseng inc. Has $200, 000 of 5%, $10 par value preferred and $450,000 of $5 par value common stock issued outstanding on Dec.31, 2021. There were no stock issuance, stock splits or dividends for 2021. The organization's calender year end is Dec. 31, 2021. The preferred stock did not receive any dividends for 2019 or 2020 because the company did not have adequate cash reserves to pay out dividends. The preferred stock has a mix characteristics. . 10% of the preferred stock is noncumulative, nonparticipating . 20% of the preferred stock is cumulatuve , nonparticipating .20% of the preferred stock is nonculative, participating .50% of the preferred stock is cumulatuve, participating The current year income is $795,000 and the company declared and paid dividends of $50,000 during the calender year. The beginning year retained earnings balance at January1, 2021 was $600,000. The company had $80,000 in treasury stock at Dec. 31, 2021. Based on the information presented by Ginseng inc. Answer 1. How many shares of preferred stock are outstanding on Dec. 31, 2021. 2.How many share of common stock are outstanding on Dec.31, 2021? 3. How many shares of the outstanding preferred stock are cumulative and participating at Dec. 31, 2020? 4.How many share of the outstanding preferred stock are noncumulative and participating on Dec. 31, 2020 5. How many share of the outstanding preferred stock are cumulative and nonparticing on Dec.2020? 6. How many shares of stock of the outstanding preferred stock are noncumulative and noparticipating at Dec. 31, 2020?. 7. What amount of Dividends in arrears was paid in 2021? 8. What is the ending retained earnings balance for the organization at Dec. 31, 2021 9. What type of account is the treasury stock? 10. What is the normal balance for the retained for retained earnings? 11.what is the normal balance for the dividends.? 12. How do cash dividends that have been declared but not paid impact retained earnings?...
The stockyholder's section of the balance sheet contains such as the following
. Common stock
. Preferred stock
.Additional paid in capital
. Other accumulated comprehensive income
.
It is important to understand how changes in the accounts impact the balance sheet and the financial positions.
Ginseng inc. Has $200, 000 of 5%, $10 par value preferred and $450,000 of $5 par value common stock issued outstanding on Dec.31, 2021.
There were no stock issuance, stock splits or dividends for 2021. The organization's calender year end is Dec. 31, 2021. The preferred stock did not receive any dividends for 2019 or 2020 because the company did not have adequate cash reserves to pay out dividends.
The preferred stock has a mix characteristics.
. 10% of the preferred stock is noncumulative, nonparticipating
. 20% of the preferred stock is cumulatuve , nonparticipating
.20% of the preferred stock is nonculative, participating
.50% of the preferred stock is cumulatuve, participating
The current year income is $795,000 and the company declared and paid dividends of $50,000 during the calender year. The beginning year retained earnings balance at January1, 2021 was $600,000. The company had $80,000 in
Based on the information presented by Ginseng inc. Answer
1. How many shares of preferred stock are outstanding on Dec. 31, 2021.
2.How many share of common stock are outstanding on Dec.31, 2021?
3. How many shares of the outstanding preferred stock are cumulative and participating at Dec. 31, 2020?
4.How many share of the outstanding preferred stock are noncumulative and participating on Dec. 31, 2020
5. How many share of the outstanding preferred stock are cumulative and nonparticing on Dec.2020?
6. How many shares of stock of the outstanding preferred stock are noncumulative and noparticipating at Dec. 31, 2020?.
7. What amount of Dividends in arrears was paid in 2021?
8. What is the ending retained earnings balance for the organization at Dec. 31, 2021
9. What type of account is the treasury stock?
10. What is the normal balance for the retained for retained earnings?
11.what is the normal balance for the dividends.?
12. How do cash dividends that have been declared but not paid impact retained earnings?...
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