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MAT 554 Lecture Notes - Lecture 3: Dividend, Financial Statement, Retained Earnings

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School
Concordia University
Department
MAT - Master of Arts in Teaching
Course
MAT 554
Professor
MIKE

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Document Summary

Twenty- five individuals accept the company"s offer and agree to pay 10% down and the remainder in three equal instalments over the next three months. In [5] above, assume for this question only that two persons defaulted on the second instalment. The company forfeited their deposits and cancelled the two subscription offers. Prepare the entry for recording the second instalment under these assumptions. Lasson corp. has 5,000 preferred shares outstanding ( dividend), which were issued for ,000, and. 30,000 common shares, which were issued for ,000. The following schedule shows the amount of dividends paid out over the past four years. Allocate the dividends to each type of share under assumptions (a) and (b). Express your answers in per share amounts and using the format that is shown. Question #3: eps basic and diluted (p17-10) Benoit limited had net income for the fiscal year ended june 30, 2014 of . 4 million. There were 2 million common shares outstanding throughout 2014.

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50,000 shares of $50 par 6% preferred stock

Using the attached T-account template, prepare the required entries for the following independent transactions.

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