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

Zaina Industries has declared a $40,000 cash dividend to shareholders. The company has 3,500 shares...

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