Business, 26.01.2022 14:30 seth82

The outstanding capital stock of Edna Millay Corporation consists of 2,000 shares of $100 par value, 8% preferred, and 5,000 shares of $50 par value common. Assuming that the company has retained earnings of $90,000, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions.
(a) The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, e. g. $38,487.)
(b) The preferred stock is cumulative and nonparticipating. (Round answers to 0 decimal places, e. g. $38,487.)
(c) The preferred stock is cumulative and participating. (Round the rate of participation to 4 decimal places,

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 09:40

Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.

Answers: 1

Answer

Business, 22.06.2019 11:00

T-comm makes a variety of products. it is organized in two divisions, north and south. the managers for each division are paid, in part, based on the financial performance of their divisions. the south division normally sells to outside customers but, on occasion, also sells to the north division. when it does, corporate policy states that the price must be cost plus 20 percent to ensure a "fair" return to the selling division. south received an order from north for 300 units. south's planned output for the year had been 1,200 units before north's order. south's capacity is 1,500 units per year. the costs for producing those 1,200 units follow

Answers: 1

Answer

Business, 22.06.2019 20:40

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.

Answers: 2

Answer

Business, 22.06.2019 21:20

How success was the first day of the bus boycott

Answers: 1

Answer

You know the right answer?

The outstanding capital stock of Edna Millay Corporation consists of 2,000 shares of $100 par value,...

Questions