Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. zaina industries has declared a $40,000 cash...

Zaina Industries has declared a $40,000 cash...

90.2K

Verified Solution

Question

Accounting

image
image
image
Zaina Industries has declared a $40,000 cash dividend to shareholders. The company has 3,500 shares of $19-par, 5% preferred stock and 10,000 shares of $15 - par common stock. The preferred stock is cumulative. How much will be distributed to the preferred and common stockholders on the date of payment if the preferred stock is $10,000 in arrears? O A. $3,325 preferred, $36,675 common O B. $13,325 preferred, $26,675 common OC. $40,000 preferred, 50 common OD. $20,000 preferred, $20,000 common Dragonstone Corp. purchased 600 shares of the company's issued common stock, paying $14 per share. To record the purchase, the journal entry will be: O A. Debit to Treasury Stock $8,400, credit to Cash $8,400 O B. Debit to Common Stock $8,400, credit to Cash $8,400 OC. Debit to Treasury Stock $8,400, credit to Commons OD. No journal entry is needed If Sarina owns 500 shares (5% of a corporation's stock) and the corporation issues 20,000 new shares, how many total shares will she have after exercising her preemptive rights? O A. 1,500 OB. 1,000 OC. 475 ODO

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Approximate the arc length of the curve over the interval using Simpson’s Rule SN with N=8. y=7e^(−x2)...

Biology
1.2K views

José Menendez is an elderly patient of Dr. Juárez, a board-certified urologist. José has a history...

Chemistry
1.2K views

Calculate ?G?rxn and K for each of the following reactions. Part A The reaction of Cr2+(aq) with Cr2O2?7(aq) in...

Medical Sciences
1.2K views

how is the endocrine system affected by an heart injury. describe endocrine regulation of blood glucose. Include hormones,...

Psychology
1.2K views

How does the war on terror change the way as Americans look at Domestic and National...

Accounting
1.2K views

A company makes the following journal entry for 2021: Dr. Income Tax Expense xxxx Dr....

Accounting
1.2K views

Scot and Vidia, married taxpayers, earn $240,000 in taxable income and $5,000 in interest from...

Accounting
1.2K views

please answers all the questions Joe Birra needs to purchase...

Accounting
1.2K views

What is the common ratio bet 27,9,3,1,(1)/(3),(1)/(9),(1)/(27)

Accounting
1.2K views

Piscuss why management needs to understand the Break Even point

Accounting
1.2K views

2022. 60,000 shares of treasury stock were sold on November 1 . What is the...

Accounting
1.2K views

Using the varable cost method, what matkup percenlage to varable cost shoula be used? Mutpole...