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1st 2nd 3rd 4th
Year Year Year Year
(a) Total dividend declared
Preferred dividend (current)
Preferred dividend in arrears
(b) Total preferred dividends
Preferred shares outstanding ÷
Preferred dividend per share
Dividend for common shares (a. − b.)
Common shares outstanding ÷
Common dividend per share
Exercise 12-1
Name:
Section:
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Seventy-Two Inc.
Distribution of Dividends
Years 1−4
Score:
0%
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Instructions
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1st 2nd 3rd 4th
Year Year Year Year
(a) Total dividend declared 51,000$ 105,000$ 81,000$ 120,000$
Preferred dividend (current) 51,000$ 72,000$ 72,000$ 72,000$
Preferred dividend in arrears - 21,000 - -
(b)
Total preferred dividends
51,000$ 93,000$ 72,000$ 72,000$
Preferred shares outstanding ÷60,000 60,000 60,000 60,000
Preferred dividend per share 0.85$ 1.55$ 1.20$ 1.20$
Dividend for common shares (a. − b.) -$ 12,000$ 9,000$ 48,000$
Common shares outstanding ÷- 300,000 300,000 300,000
Common dividend per share -$ 0.04$ 0.03$ 0.16$
Score:
ON
Exercise 12-1
Name:
Solution
Section:
Distribution of Dividends
Years 1−4
Key Code:
Instructions
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Seventy-Two Inc.
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Common Pd.-In Cap.
Stock in Excess Treasury Retained
$40 par of Par Stock Earnings Total
Balance, Jan. 1, 20Y9
Issued 30,000 shares of common stock
Purchased 12,000 shares as treasury stock
Net income
Dividends
Balance, Dec. 31, 20Y9
Exercise 12-22
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Section:
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I-Cards, Inc.
Statement of Stockholders' Equity
For the Year Ended December 31, 20Y9
Score:
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[Key code here]
Instructions
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Common Pd.-In Cap.
Stock in Excess Treasury Retained
$40 par of Par Stock Earnings Total
Balance, Jan. 1, 20Y9 4,800,000$ 960,000$ -$ 11,375,000$ 17,135,000$
Issued 30,000 shares of common stock 1,200,000 300,000 - - 1,500,000
Purchased 12,000 shares as treasury stock - - (552,000) - (552,000)
Net income - - - 3,780,000 3,780,000
Dividends - - - (276,000) (276,000)
Balance, Dec. 31, 20Y9 6,000,000$ 1,260,000$ (552,000)$ 14,879,000$ 21,587,000$
Score:
ON
Exercise 12-22
Name:
Solution
Section:
Statement of Stockholders' Equity
For the Year Ended December 31, 20Y9
Key Code:
Instructions
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I-Cards, Inc.
[Key code here]
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1.
Total
Year Dividends Total Per Share Total Per Share
20Y1
20Y2
20Y3
20Y4
20Y5
20Y6
Total
2. Average annual dividend
Divided by market price per share
3. Average return on investment (percent)
Problem 12-1A
Name:
Section:
SUMMARY OF DIVIDENDS
Preferred Dividends
Common Dividends
Score:
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Instructions
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1.
Total
Year Dividends Total Per Share Total Per Share
20Y1 80,000$ 80,000$ 0.32$ -$ -$
20Y2 90,000 90,000 0.36 - -
20Y3 150,000 130,000 0.52 20,000 0.04
20Y4 150,000 100,000 0.40 50,000 0.10
20Y5 160,000 100,000 0.40 60,000 0.12
20Y6 180,000 100,000 0.40 80,000 0.16
Total 2.40$ 0.42$
2. Average annual dividend 0.40$ 0.07$
Divided by market price per share
25.00 17.50
3. Average return on investment (percent) 1.60% 0.40%
Score:
ON
Problem 12-1A
Name:
Solution
Section:
Preferred Dividends
Common Dividends
Instructions
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SUMMARY OF DIVIDENDS
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1.
Total
Year Dividends Total Per Share Total Per Share
20Y1
20Y2
20Y3
20Y4
20Y5
20Y6
Total
2. Average annual dividend
Divided by market price per share
3. Average return on investment (percent)
Problem 12-1B
Name:
Section:
SUMMARY OF DIVIDENDS
Preferred Dividends
Common Dividends
Score:
0%
Key Code:
Instructions
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1.
Total
Year Dividends Total Per Share Total Per Share
20Y1 24,000$ 24,000$ 0.96$ -$ -$
20Y2 10,000 10,000 0.40 - -
20Y3 126,000 101,000 4.04 25,000 0.25
20Y4 100,000 45,000 1.80 55,000 0.55
20Y5 125,000 45,000 1.80 80,000 0.80
20Y6 125,000 45,000 1.80 80,000 0.80
Total 10.80$ 2.40$
2. Average annual dividend 1.80$ 0.40$
Divided by market price per share
100.00 5.00
3. Average return on investment (percent) 1.80% 8.00%
Score:
ON
Problem 12-1B
Name:
Solution
Section:
Preferred Dividends
Common Dividends
Instructions
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SUMMARY OF DIVIDENDS
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1., 2.
Jan. 1 Bal. Jan. 1 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Jan. 1 Bal. Dec. 31 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Jan. 1 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
2. 20Y6
Jan. 22
Apr. 10
June 6
July 5
Aug. 15
Nov. 23
Dec. 28
31
3.
Common
Stock
Paid-In Capital
in Excess of
Stated Value
Paid-In Capital
from Sale of
Treasury Stock
Retained
Earnings
Treasury Stock Total
Balances, January 1
Issued common stock
Net income
Cash dividends
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Problem 12-4A
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Section:
Score:
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Key Code:
Instructions
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Common Stock
Treasury Stock
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Stated Value
Stock Dividends Distributable
Retained Earnings
Stock Dividends
Cash Dividends
Morrow Enterprises Inc.
Statement of Stockholders' Equity
For the Period Ended December 31, 20Y6
Stock dividend
Sale of treasury stock
Purchase of treasury stock
Balances, December 31
4.
Paid-in capital:
Common stock, $20 stated value
(500,000 shares authorized, 468,000 shares issued)
Excess of issue price over stated value
From sale of treasury stock
Total paid-in capital
Retained earnings
Total
Deduct treasury stock (30,000 shares at cost)
Total stockholders' equity
Morrow Enterprises Inc.
Balance Sheet
December 31, 20Y6
Stockholders' Equity
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1., 2.
Jan. 1 Bal. 7,500,000 Jan. 1 Bal. 450,000 June 6 450,000
Apr. 10 1,500,000 Nov. 23 570,000
Aug. 15 360,000 Dec. 31 Bal. 570,000
Dec. 31 Bal. 9,360,000
June 6 200,000
Jan. 1 Bal. 825,000 Dec. 31 Bal. 200,000
Apr. 10 300,000
July 5 90,000
Dec. 31 Bal. 1,215,000 Aug. 15 360,000 July 5 360,000
Dec. 31 Bal. 0
June 6 650,000
450,000
200,000
July 5 450,000
360,000
90,000
Issued common stock 1,500,000 300,000 - - - 1,800,000
Net income - - - 1,125,000 - 1,125,000
Cash dividends - - - (43,800) - (43,800)
Stock dividend 360,000 90,000 - (450,000) - -
Treasury Stock
Problem 12-4A
Name:
Solution
Section:
Score:
ON
Instructions
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Common Stock
Cash
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Stated Value
Stock Dividends Distributable
Treasury Stock
Paid-In Capital from Sale of Treasury Stock
Stock Dividends
Stock Dividends Distributable
Paid-In Capital in Excess of Stated Value
Sale of treasury stock - - 200,000 - 450,000 650,000
Purchase of treasury stock - - - - (570,000) (570,000)
Balances, December 31 9,360,000$ 1,215,000$ 200,000$ 34,231,200$ (570,000)$ 44,436,200$
4.
Paid-in capital:
Common stock, $20 stated value
(500,000 shares authorized, 468,000 shares issued) 9,360,000$
Excess of issue price over stated value 1,215,000
From sale of treasury stock
200,000
Total paid-in capital 10,775,000$
Retained earnings 34,231,200
Total 45,006,200$
Deduct treasury stock (30,000 shares at cost) (570,000)
Total stockholders' equity 44,436,200$
Balance Sheet
December 31, 20Y6
Stockholders' Equity
Morrow Enterprises Inc.
[Key code here]
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Enter a zero for the final balance if appropriate. In the statements, enter a zero in cells you would otherwise leave blank.
1., 2.
Jan. 1 Bal. Jan. 1 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Jan. 1 Bal. Dec. 31 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Jan. 1 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
Dec. 31 Bal.
2. 20Y1
Jan. 15
Mar. 15
Apr. 13
June 14
July 16
Oct. 30
Dec. 30
31
3.
Common
Stock
Paid-In Capital
in Excess of
Stated Value
Paid-In Capital
from Sale of
Treasury
Stock
Retained
Earnings
Treasury
Stock Total
Balances, January 1
Issued common stock
Net income
Cash dividends
Stock dividend
Sale of treasury stock
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Problem 12-4B
Name:
Section:
Score:
0%
Key Code:
Instructions
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Common Stock
Treasury Stock
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Stated Value
Stock Dividends Distributable
Retained Earnings
Stock Dividends
Cash Dividends
Nav-Go Enterprises Inc.
Statement of Stockholders' Equity
For the Period Ended December 31, 20Y1
Purchase of treasury stock
Balances, December 31
4.
Paid-in capital:
Common stock, $20 stated value
(500,000 shares authorized, 468,000 shares issued)
Excess of issue price over stated value
From sale of treasury stock
Total paid-in capital
Retained earnings
Total
Deduct treasury stock (30,000 shares at cost)
Total stockholders' equity
Nav-Go Enterprises Inc.
Balance Sheet
December 31, 20Y1
Stockholders' Equity
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1., 2.
Jan. 1 Bal. 3,100,000 Jan. 1 Bal. 288,000 Mar. 15 288,000
Apr. 13 1,000,000 Oct. 30 300,000
July 16 123,000 Dec. 31 Bal. 300,000
Dec. 31 Bal. 4,223,000
Mar. 15 36,000
Jan. 1 Bal. 1,240,000 Dec. 31 Bal. 36,000
Apr. 13 600,000
June 14 61,500
Dec. 31 Bal. 1,901,500 July 16 123,000 June 14 123,000
Dec. 31 Bal. 0
Apr. 13 1,600,000
1,000,000
600,000
June 14 184,500
123,000
61,500
Issued common stock 1,000,000 600,000 - - - 1,600,000
Net income - - - 775,000 - 775,000
Cash dividends - - - (63,568) - (63,568)
Stock dividend 123,000 61,500 - (184,500) - -
Treasury Stock
Problem 12-4B
Name:
Solution
Section:
Score:
ON
Instructions
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Common Stock
Cash
Paid-In Capital from Sale of Treasury Stock
Paid-In Capital in Excess of Stated Value
Stock Dividends Distributable
Common Stock
Paid-In Capital in Excess of Stated Value
Stock Dividends
Stock Dividends Distributable
Paid-In Capital in Excess of Stated Value
Sale of treasury stock - - 36,000 - 288,000 324,000
Purchase of treasury stock - - - - (300,000) (300,000)
Balances, December 31 4,223,000$ 1,901,500$ 36,000$ 5,401,932$ (300,000)$ 11,262,432$
4.
Paid-in capital:
Common stock, $5 stated value
(900,000 shares authorized, 844,600 shares issued) 4,223,000$
Excess of issue price over stated value 1,901,500
From sale of treasury stock
36,000
Total paid-in capital 6,160,500$
Retained earnings 5,401,932
Total 11,562,432$
Deduct treasury stock (50,000 shares at cost) (300,000)
Total stockholders' equity 11,262,432$
Balance Sheet
December 31, 20Y1
Stockholders' Equity
Nav-Go Enterprises Inc.
