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Question
The stockholders' equity section of a corporation's balance sheet follows:
| Preferred stock, $25 par value, 6%, cumulative, 10,000 shares authorized, 5,000 shares issued and outstanding .. |
$125,000 |
| Paid-in capital in excess of par value, Preferred stock. | 50,000 |
| Common stock, $10 par value, 50,000 shares authorized, 10,000 shares issued and outstanding... |
100,000 |
| Paid-in capital in excess of par value, Common stock | 40,000 |
| Retained earnings . | 95,000 |
| Total stockholders' equity . | $410,000 |
(1) Assuming that the preferred stock is not callable and no dividends are in arrears, compute the book values per preferred share and per common share.
(2) Assuming that the preferred stock has a call price of $30 per share and one year of cumulative preferred dividends is in arrears, compute the book values per preferred share and per common share.
Answer
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Related questions
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Although a fixed budget is only useful over the relevant range of operations, a flexible budget is useful over all possible production levels.
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A fixed budget performance report never provides useful information for evaluating variances.
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A variable or flexible budget is so named because it only focuses on variable costs.
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Use the following information to prepare a budgeted income statement for Arbor Company for the month of June.
a. Beginning cash balance on June 1 is $52,000.
b. Cash receipts from sales: 40% is collected in the month of sale, 50% in the next month, and 10% in the second month after sale (uncollectible accounts are negligible and can be ignored). Sales amounts are: April (actual), $1,450,000, May (actual), $1,600,000, and June (budgeted), $1,700,000.
c. Payments on merchandise purchases: 80% in the month of purchase and 20% in the month following purchase. Purchases amounts are May (actual), $830,000; and June (budgeted), $867,000.
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g. Accrued income taxes due in June: $48,000.
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Q:
Use the following information to prepare the June cash budget for Arbor Company. It should show expected cash receipts and cash disbursement for the month and the cash balance expected on June 30.
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Q:
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E. $3,695U.
Q:
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45,000 Actual rate per hour ..
$15 Standard rate per hour ..
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B. $120 favorable.
C. $400 favorable.
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Q:
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C. Control purposes only.
D. Planning and control purposes.
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