USE THE INFORMATION GIVEN BELOW IN THIS SEGMENT TO ANSWER QUESTIONS 1 3 Athleetz, Inc , AI reported 2,000,000 no par common shares and 1,000,000 no par, $0 90 preferred shares authorized, on January 1, 2018 On the same date, 300,000 common shares contributed capital $3,600,000 and 175,000 preferred shares contributed capital $3,500,000 were outstanding For This Question Only, assume that the company declared a 8 stock dividend on February 1, 2018, when the unadjusted market price of the common shares was $12 15 each, prior to this dividend declaration What entry, if any, should AI make to record this transaction on that date No Journal Entry required for this transaction Only a Proforma Entry should be made DEBIT Common Stock Dividends $270,000 CREDIT Common Stock Dividend Distributable $270,000 DEBIT Retained Earnings $337,500 CREDIT Common Stock Dividend Distributable $337,500 DEBIT Common Stock Dividend $364,500 CREDIT Common Stock Capital $270,000 CREDIT Contributed Surplus Stock Dividends $94,500 DEBIT Common Stock Dividend $270,000 CREDIT Common Stock Capital $270,000 For This Question Only, assume that the preferred shares were non cumulative and non participating The company declared and paid a cash dividend on December 1, 2018 of $658,800 Dividends had not been declared for the past two years, 2016 and 2017 How much will each shareholder group receive $472,500 to Preferred Shareholders and $186,300 to Common Shareholders $658,800 to Common Shareholders and ZERO to Preferred Shareholders as they are non participative $439,200 to Common Shareholders and $219,600 to Preferred Shareholders as the common shareholders carry more risk and so they must receive twice as much as the preferred shareholders receive Each group receives an equal amount of $329,400 per group Preferred Shareholders $157,500 Common Shareholders $501,300 Continue with the same information given in 29 above However, now assume that for this question only, the preferred shares were cumulative and participating in excess distributable dividends after allocating common share holders a minimum dividend of $0 50 per share How much will each shareholder group receive ROUND YOUR ANSWERS TO THE NEAREST $ $490,394 to Preferred and $168,406 to Common $330,676 to Preferred and $328,124 to Common Each group receives an equal amount of $329,400 per group $630,000 to Preferred and $28,800 to Common None of the above

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USE THE INFORMATION GIVEN BELOW IN THIS SEGMENT TO ANSWER QUESTIONS 1-3. Athleetz, Inc., [AI] reported 2,000,000 no par common shares and 1,000,000 no par,

USE THE INFORMATION GIVEN BELOW IN THIS SEGMENT TO ANSWER QUESTIONS 1-3.

Athleetz, Inc., [AI] reported 2,000,000 no par common shares and 1,000,000 no par, $0.90 preferred shares authorized, on January 1, 2018. On the same date, 300,000 common shares [contributed capital $3,600,000] and 175,000 preferred shares [contributed capital $3,500,000] were outstanding.

For This Question Only, assume that the company declared a 8% stock dividend on February 1, 2018, when the unadjusted market price of the common shares was $12.15 each, prior to this dividend declaration. What entry, if any, should AI make to record this transaction on that date?

No Journal Entry required for this transaction. Only a Proforma Entry should be made.
DEBIT-Common Stock Dividends [$270,000]; CREDIT-Common Stock Dividend Distributable [$270,000].
DEBIT-Retained Earnings [$337,500]; CREDIT-Common Stock Dividend Distributable [$337,500].
DEBIT-Common Stock Dividend [$364,500]; CREDIT-Common Stock Capital [$270,000]; CREDIT-Contributed Surplus - Stock Dividends [$94,500].
DEBIT-Common Stock Dividend [$270,000]; CREDIT-Common Stock Capital [$270,000].

For This Question Only, assume that the preferred shares were non-cumulative and non-participating. The company declared and paid a cash dividend on December 1, 2018 of $658,800. Dividends had not been declared for the past two years, 2016 and 2017. How much will each shareholder group receive?

$472,500 to Preferred Shareholders and $186,300 to Common Shareholders.
$658,800 to Common Shareholders and ZERO to Preferred Shareholders as they are non-participative.
$439,200 to Common Shareholders and $219,600 to Preferred Shareholders as the common shareholders carry more risk and so they must receive twice as much as the preferred shareholders receive.
Each group receives an equal amount of $329,400 per group.
Preferred Shareholders: $157,500; Common Shareholders: $501,300.

Continue with the same information given in [29] above. However, now assume that for this question only, the preferred shares were cumulative and participating in excess distributable dividends after allocating common share holders a minimum dividend of $0.50 per share. How much will each shareholder group receive? [ROUND YOUR ANSWERS TO THE NEAREST $]