QS 11-10 Dividend allocation between classes of shareholders LO C2 Stockholders' equity of Ernst Company consists of 94,000 shares of $5 par value, 10% cumulative preferred stock and 350,000 shares of $1 par value common stock. Both classes of stock have been outstanding since the company's inception. Ernst did not declare any dividends in the prior year, but it now declares and pays a $140,000 cash dividend at the current year-end. Determine the amount distributed to each class of stockholders for this two-year-old company. Par Value per Dividend per Preferred Share Number of Preferred Preferred Dividend for Dividend Rate Preferred Share Shares two years Calculation of Preferred Dividend: % Total cash dividend To preferred shareholders 0 To common shareholders Unilever Group reports the following equity information for the years ended December 31, 2015 and 2014 (euros in millions) December 31 2015 2014 Share capital 489 489 Share premium 139 170 Other reserves (6,456) 15,815 (3,429) 15,164 Retained profit 9,987 12,394 Shareholders' equity 1. Match each of the three account titles-share capital, share premium, and retained profit-with the usual account title applied under U.S. GAAP from the following options: 2. Prepare Unilever's journal entry, using its account titles, to record the issuance of capital stock assuming that its entire par value stock was issued on December 31, 2014, for cash 3. What were Unilever's 2015 dividends assuming that only dividends and income impacted retained profit for 2015 and that its 2015 income totaled 2,677? Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 usual account title applied Match each the three account titles-share capital, share premium, and retained profit-with th under U.S. GAAP from the following options: a. Share capital b. Share premium c. Retained profit 3. What were Unilever's 2015 dividends assuming that only dividends and income impacted retained profit for 2015 and that its 2015 income totaled 2,677? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare Unilever's journal entry, using its account titles, to record the issuance of capital stock assuming that its entire par value stock was issued on December 31, 2014, for cash. (Enter your answers in millions of euros and not in whole euros.) View transaction list Journal entry worksheet Record the issue of capital stock assuming that its entire par value stock was issued on December 31, 2014, for cash. Note: Enter debits before credits Transaction Credit General Journal Debit 1 Share capital Share premi um 489 489 139 170 Other (6,456) 15,815 (3,429) eserves Retained profit 15,164 9,987 Shareholders' equity 12,394 1. Match each of the three account titles-share capital, share premium, and retained profit-with the usual account title applied under U.S. GAAP from the following options: 2. Prepare Unilever's journal entry, using its account titles, to record the issuance of capital stock assuming that its entire par value stock was issued on December 31, 2014, for cash 3. What were Unilever's 2015 dividends assuming that only dividends and income impacted retained profit for 2015 and that its 2015 income totaled 2,677? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What were Unilever's 2015 dividends assuming that only dividends and income impacted retained profit for 2015 and that its 2015 income totaled 2,677? (Enter your answer in millions of euros and not in whole euros.) Dividends Required 2 Required 3 >
