cherysjenahne
Feb 19, 2012, 09:51 AM
The shareholders equity section of Balocating corporation statement of financial position at the close of the current year follows:
8% Preference Shares, 100 par, 30,000 shares authorized, 1,000,000
10,000 shares issued
Ordinary Shares, no-par, stated value of 5, 200,000 shares 750,000
Authorized
Share Premium-Preference 130,000
Share Premium-Ordinary 3,300,000
Retained Earnings 1,400,000
Total Shareholders Equity = 6,580,000
Required:
1. What is the amount of the annual dividend on preference shares ?
2. How many ordinary shares have been issued ?
3. What is the average price paid by the shareholders for the preference shares ?
4. What is the average price paid by shareholders for the ordinary shares ?
5. How many ordinary shares are currently outstanding ?
6. If the dividends of 287,200 were paid to shareholders in the current year, how much was paid to the ordinary shareholders assuming that no preference dividends are in arrears ?
8% Preference Shares, 100 par, 30,000 shares authorized, 1,000,000
10,000 shares issued
Ordinary Shares, no-par, stated value of 5, 200,000 shares 750,000
Authorized
Share Premium-Preference 130,000
Share Premium-Ordinary 3,300,000
Retained Earnings 1,400,000
Total Shareholders Equity = 6,580,000
Required:
1. What is the amount of the annual dividend on preference shares ?
2. How many ordinary shares have been issued ?
3. What is the average price paid by the shareholders for the preference shares ?
4. What is the average price paid by shareholders for the ordinary shares ?
5. How many ordinary shares are currently outstanding ?
6. If the dividends of 287,200 were paid to shareholders in the current year, how much was paid to the ordinary shareholders assuming that no preference dividends are in arrears ?