Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 2011, 0; 20Y2, $80,000; 20Y3, $190,000; 20Y4, $230,000; 20Y5, $290,000; and 20Y6, $350,000. During the entire period ended December 31 of each year, the outstanding sto company was composed of 25,000 shares of cumulative, preferred 4% stock, $100 par, and 100,000 shares of common stock, $25 par. ed: ermine 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 arize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Total Dividends $ 40,000 80,000 190,000 230,000 290,000 $ Total $ Per Share Total PRE ENERO Per Share

Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 2011, 0; 20Y2, $80,000; 20Y3, $190,000; 20Y4, $230,000; 20Y5, $290,000; and 20Y6, $350,000. During the entire period ended December 31 of each year, the outstanding sto company was composed of 25,000 shares of cumulative, preferred 4% stock, $100 par, and 100,000 shares of common stock, $25 par. ed: ermine 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 arize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Total Dividends $ 40,000 80,000 190,000 230,000 290,000 $ Total $ Per Share Total PRE ENERO Per Share

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Lone Star Company is a calendar-year corporation, and this year Lone Star reported $122,000 in current E&P that accrued evenly throughout the year. At the beginning of the year, Lone Star’s accumulated E&P was $14,640. At the beginning of the year, Lone Star’s sole shareholder was Matt McCon. Lone Star declared $36,600 in cash distributions on each of the following dates: March 31, June 30, September 30, and December 31. (Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign.) b. Suppose that Matt sold half of his shares to Chris Coop on June 1st for $51,000. How much dividend income will Matt recognize this year? Dividend recognized: c. If Matt’s basis in his Lone Star shares was $8,100 at the beginning of the year, how much capital gain will he recognize on the sale and distributions from Lone Star? Capital gain recognized on the sale and distribution:
Lone Star Company is a calendar-year corporation, and this year Lone Star reported $100,000 in current E&P that accrued evenly throughout the year. At the beginning of the year, Lone Star's accumulated E&P was $12,000. At the beginning of the year, Lone Star's sole shareholder was Matt. Lone Star declared $30,000 in cash distributions on each of the following dates: March 31, June 30, September 30, and December 31. Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. a. How much of the $120,000 in total distributions will be treated as dividends? b. Suppose that Matt sold half of the shares to Chris on June 1 for $40,000. How much dividend income will Matt recognize this year? Answer is complete but not entirely correct. Dividend recognized $ 35,714 X c. If Matt's basis in the Lone Star shares was $7,000 at the beginning of the year, how much capital gain will he recognize on the sale and distributions from Lone Star? Capital gain…
Lone Star Company is a calendar-year corporation, and this year Lone Star reported $142,000 in current E&P that accrued evenly throughout the year. At the beginning of the year, Lone Star's accumulated E&P was $17,040. Lone Star declared $42,600 in cash distributions on each of the following dates: April 1, July 1, October 1, and December 31. Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. b. Suppose that Matt owned all Lone Star's shares at the beginning of the year and sold half of the shares to Chris on June 1st June 1st for $56,800. How much dividend income will Matt recognize this year? Hint: The correct answer is from the book = 100,820
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Stale Bread Co. had net income in the current year of $700,000. Depreciation expense for the year was $80,000. Between the beginning and the end of the current year the company's accounts payable (all to suppliers of raw materials) increased $100,000 while accounts receivables from customer sales also increase by $150,000. The company also issued a long-term bond payable in exchange for receiving $300,000 cash. Compute the amount of cash provided or used for OPERATING ACTIVITIES, only, by the indirect method.
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Richardson Company reported pretax income from continuing operations in the first six months of the current year in the amount of $100,000. Projected pretax operating income for the balance of the year is $110,000.Estimates of annual income include income from municipal bonds in the amount of $5,000 that will never be subject to income tax. Furthermore, it is anticipated that $8,000 of tax credits will be available during the year.During the third quarter of the current year, the company changed accounting principles that after retrospective application, resulted in pretax income for the first six months increasing by $20,000 and projections for the balance of the year increasing by $25,000. During the third quarter of the current year, the company experienced pretax operating income of $80,000 and projected a pretax operating income of $20,000 for the fourth quarter. At the end of the third quarter, the company estimated that annual income from municipal bonds would be $4,000 and the…
The following information can be found in Sanduc Merchandising Corporation's financial statement in 2019: cost of sales of 2,450,000; accumulated depreciation of 75,000; operating expenses of 1,050,000; corporate income tax of 32% sales of 4,800,000; 3-year bank loan of 1,000,000 that pays an interest rate of 8.5 per year. determine the net profit before tax of Sanduco
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Required information [The following information applies to the questions displayed below.] Lone Star Company is a calendar-year corporation, and this year Lone Star reported $148,000 in current E&P that accrued evenly throughout the year. At the beginning of the year, Lone Star's accumulated E&P was $17,760. Lone Star declared $44,400 in cash distributions on each of the following dates: April 1, July 1, October 1, and December 31. Note: Leave no answer blank. Enter zero if applicable. Negative amount should be indicated by a minus sign. b. Suppose that Matt owned all Lone Star's shares at the beginning of the year and sold half of the shares to Chris on June 1st for $59,200. How much dividend income will Matt recognize this year? Dividend recognized