Assignment Problem 1: The Long Island Ducks has stock outstanding as follows: 12,000 shares of cumulative preferred 2% stock $150 par and 50,000 shares of S10 par common. During the first four years of operations, the following were distributed as dividends first year, $27,000, second year, 560,000, third year, 580,000, fourth year $90,000. Determine the amount of dividends alocated to preferred stockholders and to common stockholders for each of the four years Problem 2 The New England Patriots sell cellated footbals, and were organised on March 1 of the current year with an authorization of 25.000 shares of preferred XX stock $100 par and 500.000 shares of 510 par common stock. The following selected in actions were completed during the first year of operations March 1: od 220,000 shares of common stock at par for cash 1 tssued 500 shares of common stock et par to an attorney in payment of legal fees for organising the corporation May 31 ved 70.000 shares of common stock in exchange for land, buildings and equipment with toir market prices of $150,000, 5560,000 and $365,000 respectively July 1: 18,000 shares of preferred stock at $110 for the Journaise the transactions Problems The Mboulement Company has the following account balances Common Stock (100,000 hufes authorised; 800,000 shares issued), sa par, $2,000,000, Puidon capital in excent of par common stock, $1,000,000, and Retained aine, $31.500.000 The board of director declared a 2 stock divided when the market price of the stock was $13 a share Journaise the entries to record (1) the declaration of the dividend, capitaluing an amount equal to market valand (7) the ance of the stock certificates Determine the following mounts before the stock dividend was declared (1) total paid in capital, c) total retained earning, and total od holders equity cermine the following amount or the stock dividend was devel) the total paid in capital retained end total stockholders equity Problem Poe's het Pasta dirutes para products that are packaged with any of the current year. Pacereacred 40,000 shares of its common stock 541 per share trawy stock On September 27. Pace sold 30,000 of the racquired shares o per share the remaining 10,000 there were sold 543 per share on November A Joure the transactions of 9. September 22, and November Anment Due by 05/01/21 Assignment Problem 1: The Long Island Ducks has stock outstanding as follows: 12,000 shares of cumulative preferred 2% stock $150 par and 50,000 shares of S10 par common. During the first four years of operations, the following were distributed as dividends first year, $27,000, second year, 560,000, third year, 580,000, fourth year $90,000. Determine the amount of dividends alocated to preferred stockholders and to common stockholders for each of the four years Problem 2 The New England Patriots sell cellated footbals, and were organised on March 1 of the current year with an authorization of 25.000 shares of preferred XX stock $100 par and 500.000 shares of 510 par common stock. The following selected in actions were completed during the first year of operations March 1: od 220,000 shares of common stock at par for cash 1 tssued 500 shares of common stock et par to an attorney in payment of legal fees for organising the corporation May 31 ved 70.000 shares of common stock in exchange for land, buildings and equipment with toir market prices of $150,000, 5560,000 and $365,000 respectively July 1: 18,000 shares of preferred stock at $110 for the Journaise the transactions Problems The Mboulement Company has the following account balances Common Stock (100,000 hufes authorised; 800,000 shares issued), sa par, $2,000,000, Puidon capital in excent of par common stock, $1,000,000, and Retained aine, $31.500.000 The board of director declared a 2 stock divided when the market price of the stock was $13 a share Journaise the entries to record (1) the declaration of the dividend, capitaluing an amount equal to market valand (7) the ance of the stock certificates Determine the following mounts before the stock dividend was declared (1) total paid in capital, c) total retained earning, and total od holders equity cermine the following amount or the stock dividend was devel) the total paid in capital retained end total stockholders equity Problem Poe's het Pasta dirutes para products that are packaged with any of the current year. Pacereacred 40,000 shares of its common stock 541 per share trawy stock On September 27. Pace sold 30,000 of the racquired shares o per share the remaining 10,000 there were sold 543 per share on November A Joure the transactions of 9. September 22, and November Anment Due by 05/01/21