Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

explain all answer, no written work The following information is relevant for question 9 and 10: Tomer's stockholders equity section of the balance sheet for

image text in transcribed

explain all answer, no written work

The following information is relevant for question 9 and 10: Tomer's stockholders equity section of the balance sheet for Dec 31 2014 is as follows (amounts in USD): 31/12/2014 Preferred stock, 5%, $120 par, non-cumulative, 6,000 shares 720,000 Common stock, ($2 par value each) 2,100,000 Additional paid-in capital-preferred 50,000 Additional paid-in capital-common 6,300,000 Total paid-in capital 6,350,000 Retained earnings 13,500,000 Total paid-in capital & retained earning 19,850,000 Total owners' equity 22,670,000 9. What were the average issue price of the common stocks since the inception of the Company? a. $8 b. $6 c. $2 d. $4 e. $10 10. Assuming dividends were not paid during the last 3 years. In the current year, the board of directors declared on distributing a dividend of $3,186,000. Which dividend amount will be distributed to a person that holds 2,000 common shares? a. $3,034 b. $6,068 c. $4,697 d. $6,000 e. $3,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

12th edition

1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411

More Books

Students also viewed these Accounting questions

Question

6. How can hidden knowledge guide our actions?

Answered: 1 week ago

Question

7. How can the models we use have a detrimental effect on others?

Answered: 1 week ago