Required information

Skip to question

[The following information applies to the questions displayed below.] Raphael Corporations balance sheet shows the following stockholders equity section.

Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding	$ 80,000
Common stock$___ par value, 4,000 shares authorized, issued, and outstanding	160,000
Retained earnings	370,000
Total stockholders' equity	$ 610,000

2. If two years preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $18,600, compute the total amount paid to (a) preferred shareholders and (b) common shareholders.

Required information

Skip to question

[The following information applies to the questions displayed below.] Raphael Corporations balance sheet shows the following stockholders equity section.

Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding	$ 80,000
Common stock$___ par value, 4,000 shares authorized, issued, and outstanding	160,000
Retained earnings	370,000
Total stockholders' equity	$ 610,000

2. If two years preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $18,600, compute the total amount paid to (a) preferred shareholders and (b) common shareholders.

Total amount paid to the preferred shareholder

Total amount to be paid to the common share holders

Question 2 just want to know in this question ( common stock dividend distributable October 2)

At September 30, the end of Beijing Companys third quarter, the following stockholders equity accounts are reported.

Common stock, $14 par value	$ 360,000
Paid-in capital in excess of par value, common stock	110,000
Retained earnings	400,000

In the fourth quarter, the following entries related to its equity are recorded.

Date	General Journal	Debit	Credit
October 2	Retained Earnings	70,000
	Common Dividend Payable		70,000
October 25	Common Dividend Payable	70,000
	Cash		70,000
October 31	Retained Earnings	63,000
	Common Stock Dividend Distributable		30,000
	Paid-In Capital in Excess of Par Value, Common Stock		33,000
November 5	Common Stock Dividend Distributable	30,000
	Common Stock, $14 Par Value		30,000
December 1	MemoChange the title of the common stock
	account to reflect the new par value of $4.
December 31	Income Summary	250,000
	Retained Earnings		250,000

Required: 2. Complete the following table showing the equity account balances at each indicated date.