Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

hello I need help for my home work..please see attach file. Marigold Corporation has 117,000 common shares outstanding with a carrying value of $22 per

hello

I need help for my home work..please see attach file.

image text in transcribed Marigold Corporation has 117,000 common shares outstanding with a carrying value of $22 per share. Marigold declares a 3-for-1 stock split. How many shares are outstanding after the split? Number of shares outstanding shares What is the carrying value per share after the split? (Round answer to 2 decimal places, e.g. 52.75.) $ Carrying value per share What is the total carrying value after the split? $ Total carrying value What journal entry is necessary to record the split? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit SUBMIT ANSWER Monty Limited's ledger shows the following balances on December 31, 2017: Preferred shares outstanding: 25,000 shares Common shares outstanding: 34,000 shares Retained earnings $ 525,000 2,380,000 870,200 Assuming that the directors decide to declare total dividends in the amount of $435,100, determine how much each class of shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.47 per share. (Round answers to 0 decimal places, e.g. 5,275.) Preferred Common $ Total $ $ Dividen d Assuming that the directors decide to declare total dividends in the amount of $435,100, determine how much each class of shares should receive if the preferred shares are non- cumulative and non-participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.47 per share. (Round answers to 0 decimal places, e.g. 5,275.) Preferred Common $ Total $ $ Dividen d Assuming that the directors decide to declare total dividends in the amount of $435,100, determine how much each class of shares should receive if the preferred shares are non- cumulative and are participating in distributions in excess of a 9.00% dividend rate on the common shares. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.47 per share. (Round answers to 0 decimal places, e.g. 5,275.) Preferred Dividen d Common $ Total $ $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Financial Accounting

Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M

5th Canadian edition

9781259105692, 978-1259103285

Students also viewed these Accounting questions

Question

What is the equivalent recursive definition for a_(n)=12+(n-1)3

Answered: 1 week ago