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# Question 1 Powder Corporation Declared

• Date Submitted: 08/16/2016 04:09 AM
• Flesch-Kincaid Score: 58.2
• Words: 1018
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Question 1 Powder Corporation declared

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Question 1
Powder Corporation declared, but had not yet paid, dividends on the 10,000 shares of 6%, \$10 par value cumulative preferred stock it had outstanding for the year. The weighted average number of common shares outstanding and net income for the year were 50,000 shares and \$90,000, respectively. Earnings per share equals (do not show your work; just enter your answer):
Question 3

Oceanview Wholesale Merchandise had 20,000 shares of 6%, \$20 par value preferred stock and 15,000 shares of \$25 par value common stock outstanding throughout 2014. Assuming that total dividends declared in 2014 were \$80,000 and that the preferred stock is cumulative with two years' preferred dividends in arrears on December 31, 2013, the preferred stockholders should receive 2014 dividends totaling (do not show your work; just enter your answer):
Question 4
Oceanview Wholesale Merchandise had 20,000 shares of 6%, \$20 par value preferred stock and 15,000 shares of \$25 par value common stock outstanding throughout 2014. Assuming that total dividends in 2014 were \$35,000 and that the preferred stock is cumulative with one year's preferred dividends in arrears on December 31, 2013, the preferred stockholders should receive 2014 dividends totaling (do not show your work; just enter your answer):
Question 5

Oceanview Wholesale Merchandise had 20,000 shares of 6%, \$20 par value preferred stock and 15,000 shares of \$25 par value common stock outstanding throughout 2014. Assuming that total dividends declared in 2014 were \$45,000, that the cumulative preferred stock was issued on January 1, 2013, and that \$10,000 of preferred dividends were declared and paid in 2013, the common stockholders should receive 2014 dividends totaling (do not show your work; just enter your answer):