Ch.13 - CHAPTER 13 CORPORATIONS: ORGANIZATION, STOCK...

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CHAPTER 13 CORPORATIONS: ORGANIZATION, STOCK TRANSACTIONS, AND DIVIDENDS EXERCISES Ex. 13–1 1st Year 2nd Year 3rd Year 4th Year a. Total dividend declared. ................. $ 30,000 $ 42,000 $ 90,000 $ 120,000 Preferred dividend (current). ......... $ 30,000 $ 27,000 $ 45,000 $ 45,000 Preferred dividend in arrears. ........ 15,000 18,000 b. Total preferred dividends. .............. $ 30,000 $ 42,000 $ 63,000 $ 45,000 Preferred shares outstanding. ....... ÷ 15,000 ÷ 15,000 ÷ 15,000 ÷ 15,000 Preferred dividend per share. ........ $ 2.00 $ 2.80 $ 4.20 $ 3.00 Dividend for common share (a. – b.). .............................................. $ $ $ 27,000 $ 75,000 Common shares outstanding. ....... ÷ 50,000 ÷ 50,000 Common dividend per share. ......... $ 0.54 $ 1.50 Ex. 13–3 a. Feb. 10 Cash. ............................................................. 1,360,000 Common Stock. ....................................... 400,000 Paid-In Capital in Excess of Par— Common Stock. ....................................... 960,000 May 9 Cash. ............................................................. 700,000 Preferred Stock. ...................................... 500,000 Paid-In Capital in Excess of Par— Preferred Stock. ...................................... 200,000 b. $2,060,000 ($1,360,000 + $700,000) Ex. 13–4 a. June 4 Cash. ............................................................. 3,000,000 Common Stock. ....................................... 750,000 Paid-In Capital in Excess of Stated Value. ............................................ 2,250,000 Oct. 9 Cash. ............................................................. 2,000,000 1
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Preferred Stock. ...................................... 1,875,000 Paid-In Capital in Excess of Par— Preferred Stock. ...................................... 125,000 b. $5,000,000 ($3,000,000 + $2,000,000) Ex. 13–5 Jan. 30 Land. ...................................................................... 270,000 Common Stock. ............................................... 180,000 Paid-In Capital in Excess of Par. .................... 90,000 Ex. 13–6 a. Cash. ............................................................................... 400,000
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Ch.13 - CHAPTER 13 CORPORATIONS: ORGANIZATION, STOCK...

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