Problem calculate the dividends per share on each class of stock

1#

Canton, Inc. has stock outstanding as follows: 25,000 shares of \$2.00 cumulative,

nonparticipating preferred stock of \$50 par, and 100,000 shares of \$25 par common. During

its first five years of operations, the following amounts were distributed as dividends: first

year, none; second year, \$20,000; third year, \$90,000; fourth year, \$180,000; fifth year,

\$250,000.

1) Calculate the dividends per share on each class of stock for each of the five years.

2) Redo #1, assuming the preferred stock is noncumulative

2#

The following selected accounts appear in the ledger of Cyma Environmental Corporation on

January 1, 2003.

Preferred 4% Stock, \$100 par (10,000 shares authorized,

8,000 shares issued) …………………………………………… \$800,000

PIC-excess of par-PF ………………………………………………….80,000

Common Stock, \$20 par (60,000 shares authorized,

30,000 shares issued) …………………………………………… 600,000

PIC-excess of par-CS ……………………………………………….. 900,000

Retained Earnings ………………………………………………… 1,277,000

Journalize the entries to record the following transactions.

a. Issued 20,000 shares of common stock at \$32 receiving cash.

b. Sold 1,000 shares of preferred 4% stock at \$120.

c. Purchased 5,000 shares of treasury common for \$220,000

d. Sold 2,000 shares of treasury common for \$84,000

e. Sold 1,500 shares of treasury common for \$68,500

f. Issued 10,000 shares of common stock in exchange for Land costing \$385,000

3#

Selected transactions completed by Zebra Company appear below. Journalize the

transactions.

Jan. 5 Split the common stock 4 for 1 and reduced the par from \$100 to \$25 per share.

After the split, there were 100,000 common shares outstanding.

Feb. 20 Purchased 10,000 shares of treasury stock for \$300,000.

Mar. 12 Declared the semiannual dividends of \$4 on 20,000 shares of preferred stock and

\$.50 on the outstanding common stock.

April 12 Paid the cash dividends.

June 5 Sold 5,000 shares of treasury stock at \$33, receiving cash.

Sept. 2 Declared semiannual dividends of \$4 on preferred stock, and \$.50 on common

stock (before the stock dividend). In addition, a 4% common stock dividend was

declared on the common stock outstanding, to be capitalized at fair market value

of the common stock, which is estimated at \$40.

Oct. 5 Paid the cash dividends and issued the certificates for the common stock dividend.

Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
\$0.00

How it works?

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.