Question
21. On January 1, 2021, the board of directors of Goby Inc. declared a $650,000 dividend. The following data is from the balance sheet of
21.
On January 1, 2021, the board of directors of Goby Inc. declared a $650,000 dividend. The following data is from the balance sheet of Goby on that date:
Common stock | $ | 600,000 | |
Paid-in capitalexcess of par | 400,000 | ||
Retained earnings | 500,000 | ||
Paid-in capitalshare repurchase | 60,000 | ||
How much is the liquidating dividend?
22.
The shareholders' equity of Red Corporation includes $260,000 of $1 par common stock and $460,000 par of 6% cumulative preferred stock. The board of directors of Red declared cash dividends of $56,000 in 2021 after paying $26,000 cash dividends in 2020 and $46,000 in 2019. What is the amount of dividends common shareholders will receive in 2021?
23.Pug Corporation has 14,000 shares of $10 par common stock outstanding and 24,000 shares of $100 par, 6% noncumulative, nonparticipating preferred stock outstanding. Dividends have not been paid for the past two years. This year, a $210,000 dividend will be paid. What are the dividends per share for preferred and common, respectively?
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