Q : 16 The original sale of the $50 par value common shares of Coronado Company was recorded as follows: Cash 300,900 Common Stock 255,000 Paid-in Capital in Excess of Par 45,900 Transactions: (a) Bought 380 shares of common stock as treasury shares at $62. (b) Sold 130 shares of treasury stock at $60. (c) Sold 70 treasury shares at $67. Record the treasury stock transactions (given above) under the cost method. (Credit account titles are automatically indented when 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.) No. Account Titles and Explanation Debit Credit

(a)

(b)

(c)

Q: 17 Sarasota, Inc., has $760,000 of 4% preferred stock and $1,300,000 of common stock outstanding, each having a par value of $10 per share. No dividends have been paid or declared during 2019 and 2020. As of December 31, 2021, it is desired to distribute $266,800 in dividends. How much will the preferred and common stockholders receive under each of the following assumptions:

(a)		The preferred is noncumulative and nonparticipating.
(b)		The preferred is cumulative and nonparticipating.
(c)		The preferred is cumulative and fully participating.
(d)		The preferred is cumulative and participating to 7% total.

		Preferred stockholders		Common stockholders
(a)		$		$
(b)		$		$
(c)		$		$
(d)		$		$