ecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $30,000; 20Y2, $60,000; 20Y3, $143,000; 20Y4, $173,000; 20Y5, $218,000; and 20Y6, $270,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 25,000 shares of cumulative, preferred 3% stock, $100 par, and 100,000 shares of common stock, $25 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 20Y1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0".

Answers

Answer 1

Answer:

Answer:

Find the attached dividend analysis spreadsheet for Theater Inc.

Explanation:

In analyzing the dividends in the respective years, I first calculated yearly preferred dividends which is $75,000 i.e 25,000*$100*3%

In any year where total dividends declared and paid fell short of $75,000,the entire amount is given as preferred dividends with balance carried over to future years.

Related Questions

Discuss the customer’s role as a productive resource for the firm. Describe a time when you played this role. What did you do and how did you feel? Did the firm help you to perform your role effectively? How?
One of the themes that came out of the survey responses is that employees feel bored and unchallenged because they only do a narrow job. According to the job characteristics theory, What should you do to address this issue?
The net income reported on the income statement of Whispering Winds Corp. for the current year was $1251000. Depreciation recorded on plant assets was $236000. Accounts receivable and inventories increased by $66000 and $44000, respectively. Prepaid expenses and accounts payable decreased by $6000 and $61000, respectively. How much cash was provided by operating activities during the year
A firm has cash of 200,000, accounts receivable of 75,000, prepaid expenses of 12,500, accounts payable of $50,000, other current liabilities of 35,000, common stock of 375,000 and long term liabilities of 65,000. The firm also produced a profit of 20,000 during the last calendar year. What is the firm working capital?
Segment management is best suited for: _____________ a. small-to-medium businesses b. large businesses c. businesses who already identify customers individually and differentiate them by value d. businesses who do not yet identify or differentiate their customers individually e. a, b, and c f. a, b, and d

Many different project life cycle models are used for different types of projects, such as information systems, improvement, research and development, and construction. Select one:True False

Answers

Answer:

True

Explanation:

For different types of projects, many different projects life cycle models are used, such as data management , advancement, research and technology.

In general, a life cycle for a program includes a number of stages controlled by a set of decisions that verify that the scheme is mature sufficiently leave one phase and join the other.

Therefore following statement is TRUE.

Shamrock Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $ 161,900
Purchases (gross) 697,000
Freight-in 31,400
Sales revenue 924,000
Sales returns 73,200
Purchase discounts 12,100

Compute the estimated inventory at May 31, assuming that the gross profit is 40% of net sales

Answers

Answer:

The estimated inventory at May 31 is $240,100

Explanation:

The gross profit is the difference between the sales revenue and the cost of good sold.

The gross profit percentage is the ratio of gross profit to net sales expressed as a percentage.

Net sales is the sales less returns and allowances. Similar to net sales is net purchases which is the gross purchase net the allowances and returns.

Net purchases = $697,000 - $12,100

= $684,900

Net sales = $924,000 - $73,200

= $850,800

Gross profit margin percent = gross profit/net sales

gross profit = 0.4 * $850,800

= $212,700

cost of goods sold = $850,800 - $212,700

= $638,100

The movement in the balance of inventory at the start and end of a period is as a result of sales and purchases. While sales reduces the balance in inventory, purchases increases the balance. This may be expressed mathematically as

Opening balance + purchases + freight inward - cost of goods sold = closing balance

$161,900 + $684,900 + $31,400 - $638,100 = Estimated ending inventory

Estimated ending inventory = $240,100

Several transactions for Trolley, Inc. are presented below. The company adjusts its books only at year-end.a. On August 1, the company rented some land from another company for $2,660 for a three-year time period. Trolley charged an expense account on August 1.
b. On February 1, Trolley received $8,000 for a four-year technical service contract. Trolley is performing the services evenly over the four-year period. The company credited a liability account, Unearned Service Revenue, on February 1.
c. On May 1, Trolley loaned $3,400 to another company on a 12%, one-year note.
d. The weekly (five-day) payroll of Trolley amounts to $2,500. All employees are paid at the close of business each Friday. December 31 falls on a Thursday.
Required:
Prepare the adjusting entries for December 31.

Answers

Answer: See explanation

Explanation:

It should be noted that adjusting entries are normally made at the conclusion of an accounting period so that the income and expenditure will be allocated to the particular period when they took place.

Prepaid rent is calculated as:

= 2660 × (36-5)/36

= 2660 × 31/36

= 2290.56

Unearned revenue:

= 8000 × 11/48

= 1833.33

Accrued interest:

= 3400 × 12% × 8/12

= 3400 × 0.12 × 8/12

= 272

Salary expense:

= 2500 × 4/5

= 2000

The adjusting entry has been attached.

Final answer:

The adjusting entries for year-end include recognizing the appropriate portion of prepaid rent, recognizing earned portion of unearned revenue, recording interest receivable and interest revenue, and adjusting for payroll expense and payable.

Explanation:

The adjustments for Trolley Inc. for year-end can be prepared as follows:

August 1: Trolley Inc. paid $2,660 for a three-year lease. The total expense is spread evenly over the three years, so we recognize 5/36 of the cost this year. That's $2,660 x 5/36 = $367.78. So, the adjusting entry is: Debit Prepaid Rent $367.78 and Credit Rent Expense $367.78.
February 1: Trolley received $8,000 for a four-year technical service contract. The contract is being delivered evenly over four years, so 11/48 of the revenue is recognized this year. That's $8,000 x 11/48 = $1833.33. Therefore, the adjusting entry is: Debit Unearned Service Revenue $1833.33 and Credit Service Revenue $1833.33.
May 1: Trolley loaned $3,400 to another company at 12% interest per annum. The interest for the 8 months is $3,400 x 12% x 8/12 = $272. Hence, the adjusting entry is: Debit Interest Receivable $272 and Credit Interest Revenue $272.
December 31: Trolley pays $2,500 weekly (five-day) payroll. Since December 31 falls on a Thursday, there's one day of expenses to adjust. Thus, the adjusting entry is: Debit Wage Expense $500 and Credit Wage Payable $500.

Learn more about Adjusting Entries here:

brainly.com/question/33175618

#SPJ3

Suppose Juanita currently allocates 75% of her portfolio to a diversified group of stocks and 25% of her portfolio to risk-free bonds; that is, she chooses combination D. She wants to reduce the level of risk associated with her portfolio from a standard deviation of 15 to a standard deviation of 5. In order to do so, she must do which of the following? Check all that apply.a. Sell some of her stocks and use the proceeds to purchase bonds
b. Accept a lower average annual rate of return
c. Sell some of her bonds and use the proceeds to purchase stocks
d.Place the entirety of her portfolio in bonds

Answers

Answer:

You didn´t post the complete information of the exercise, I searched the exercise online and tried to ask the most useful question.

Explanation:

There is a direct relationship between the risk of Juanita's portfolio and it's average annual return.

Note: Risk and return are directly proportional to each other.

Juanita currently earns a return of 4.5% that is currently she holds portfolio B and she wishes to earn a return of 9.5% that is portfolio D. Then

Sell some of her bonds and use proceeds to buy stocks

Accept more risk.

Suppose, Juanita modifies her portfolio to contain 75% diversified stock and 25% government risk free bond, that is she choose combination D. The average annual return of this type of portfolio is 9.5% but the standard deviation is 15%, the returns will typically (about 95% of the time) vary from a gain of 39.5% to a loss of - 20.5%.

95% confidence = 2 × SD = 2 × 15 = 30

Gain = 9.5 + 30 = 39.5

Loss = 9.5 - 30 = - 20.5

On November 1, Alan Company signed a 120-day, 8% note payable, with a face value of $9,000. What is the maturity value of the note on March 1

Answers

Answer:

$9,236.71

Explanation:

The computation of the maturity value of the note is shown below:-

Interest Amount = ($9000 × 8%) × 120 ÷ 365

= $720 × 120 ÷ 365

= $236.71

So, the Maturity Value is

= Face value + Interest amount

= $9,000 + $236.71

= $9,236.71

Therefore for computing the maturity value we simply applied the above formula.

The total product curve: a. will become flatter as output increases if there are diminishing returns to the variable input. b. will be downward-sloping if there are diminishing returns to the variable input. c. shows the relation between output and the quantity of a variable input for varying levels of the fixed input. d. will become horizontal when the marginal product of the variable input is constant.

Answers

Answer:

B) Will become flatter as output increases if there are diminishing returns to the variable input

Explanation:

Other Questions

The current account is best defined as:A. the account that tracks the flow of domestic money into and out of foreign assets and the flow of foreign money into and out of domestic assets. B. the account that includes transactions like imports and exports, income earned by Americans abroad, and net transfers to other countries. C. the national income account that tracks all purchases made by businesses within the last six months.

How can strategic leaders be successful in an industry like the airlines industry

Which of the following is not a concern in using ratio analysis?a. We don't know an 'optimal' value for ratios..b. We cannot find adequate industry averages.c. There may be accounting differences.d. Ratios do not give us answers to how to 'fix' an organization.e. All of the above are concerns.

Consider three imaginary countries. In Aire, saving amounts to $4,000 and consumption amounts to $12,000; in Bovina, saving amounts to $3,000 and consumption amounts to $24,000; and in Cartar, saving amounts to $10,000 and consumption amounts to $50,000. The saving rate is