Determine the amount of dividends per share on preferred and common stock for

# Determine the amount of dividends per share on

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126.Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is cumulative and nonparticipating. The shareholders' equity of Crystal Company includes the items shown below. The board of directors of Crystal declared cash dividends of \$3 million, \$6 million, and \$50 million in each of its first three years of operation: 2011, 2012, 2013, respectively.Common stock, \$1 par, 50,000,000 shares outstandingPreferred stock, 6%, \$100 par, 1,000,000 shares outstandingRequired:127.Prepare any necessary journal entries. The shares were distributed on May 15, 2013, to stockholders of record on May 1, 2013. ZIP Company owns 40,000 shares of the common stock of PIK Company. ZIP decided to divest itself of this investment by distributing the PIK shares in the form of a property dividend. The dividend ratio is one share of PIK for every four shares of ZIP common held by shareholders. ZIP has 160,000 common shares outstanding. On April 15, 2013, the date of declaration, PIK stock had a par value of \$5 per share, a carrying value of \$12 per share, and a market value of \$17 per share.Required:
128.(1.) Prepare all appropriate journal entries, assuming a cash dividend in the amount of \$1.00 per share. (2.) Prepare all appropriate journal entries, assuming a cash dividend in the amount of \$5.00 per share. Fowler Co.'s balance sheet showed the following at December 31, 2013:A cash dividend is declared on December 31, 2013, and is payable on January 20, 2014, to shareholders of record on January 10, 2014.Required:129.Without preparing journal entries, prepare the shareholders' equity section of Fascom's balance sheet as of December 31, 2013. Assume net income is \$500,000 for 2013. On January 1, 2013, Fascom had the following account balances in its shareholders' equity accounts.During 2013, Fascom Inc. had several transactions relating to common stock.Required:
130.Prepare any necessary journal entries to record the above transactions. On September 15, 2013, the Scottie Company board of directors declared a 10% stock dividend on common shares. The shares are to be distributed on October 10, 2013, to shareholders of record on October 1, 2013. The market price per share on the date of declaration was \$24 while the market price on the date of distribution was \$26. The common stock has a par value of \$5 per share and there were 1,000,000 shares outstanding prior to the declaration of the stock dividend.Required:131.Prepare any necessary journal entries to record the above events.