RSM 221H1-Marigold Corporation has 117,000 common shares

Subject: Business    / Accounting
Question
Marigold Corporation has 117,000 common shares outstanding with a carrying value of $22 per
share. Marigold declares a 3-for-1 stock split. How many shares are outstanding after the split? Number of shares outstanding
shares What is the carrying value per share after the split? (Round answer to 2 decimal places, e.g.
52.75.)
$
Carrying value per share What is the total carrying value after the split?
$
Total carrying value What journal entry is necessary to record the split? (Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no entry is required,
select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and
Explanation Debit Credit SUBMIT
ANSWER Monty Limited’s ledger shows the following balances on December 31, 2017:
Preferred shares outstanding: 25,000 shares
Common shares outstanding: 34,000 shares
Retained earnings $ 525,000
2,380,000
870,200 Assuming that the directors decide to declare total dividends in the amount of $435,100,
determine how much each class of shares should receive if the preferred shares are cumulative
and fully participating. Note that one year’s dividends are in arrears on the preferred shares,
which pay a dividend of $1.47 per share. (Round answers to 0 decimal places, e.g. 5,275.)
Preferred Common
$ Total
$ $ Dividen
d Assuming that the directors decide to declare total dividends in the amount of $435,100,
determine how much each class of shares should receive if the preferred shares are non–
cumulative and non–participating. Note that one year’s dividends are in arrears on the preferred
shares, which pay a dividend of $1.47 per share. (Round answers to 0 decimal places, e.g.
5,275.)
Preferred Common
$ Total
$ $ Dividen
d Assuming that the directors decide to declare total dividends in the amount of $435,100,
determine how much each class of shares should receive if the preferred shares are non–
cumulative and are participating in distributions in excess of a 9.00% dividend rate on the
common shares. Note that one year’s dividends are in arrears on the preferred shares, which pay
a dividend of $1.47 per share. (Round answers to 0 decimal places, e.g. 5,275.)
Preferred
Dividen
d Common
$ Total
$ $