Contractual restrictions and legal restrictions

Assignment Help Financial Accounting

Reference no: EM13866630

Ocean view 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 the total dividends declared in 2014 was $190,000 and that the cumulative preferred stock received dividends in the following manner: In full up to 2010, $18,000 in 2011, $4,000 in 2012, and $15,000 in 2013; common stockholders should receive total 2014 dividends of:

Restrictions of retained earnings may result from each of the following except:

contractual restrictions.

legal restrictions.

prior period adjustment restrictions.

voluntary restrictions.

Reference no: EM13866630

Questions Cloud

Hotel property recorded : A 335 room hotel property recorded in 2013 a 66.6% occupancy and an ADR of $117.98. What is the property's franchise fee 1) on a per available room basis and 2) as a percentage of rooms revenue if the agreement required the hotel to pay a reservation..

Calculate margin and net income and return on equity : For the year ended December 31, 2013, Ebanks, Inc., earned an ROI of 12%. Sales for the year were $150 million, and average asset turnover was 2.5. Average stockholders’ equity was $50 million. Calculate E banks, Inc.’s return on equity. Calculate E ..

Calculate the balance in the common stock account : Total equity at December 31, 2008 is equal to 80% of total liabilities at December 31, 2008. Calculate the balance in the common stock account at December 31, 2008.

Entry to record this dividend declaration includes credit : Trinity Manufacturing declared a 10% stock dividend when it had 150,000 shares of $3 par value common stock outstanding. The market price per common share was $11 per share when the dividend was declared. The entry to record this dividend declaration..

Contractual restrictions and legal restrictions : Ocean view 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. In full up to 2010, $18,000 in 2011, $4,000 in 2012, and $15,000 in 2013; common stoc..

What is the balance in the cash account : The cash account of Grande Home Improvement Store shows the following: a debit on June 1 for $25,000; a credit on June 5 for $10,000, a debit on June 16 for $14,000, and a credit on June 27 for $8,000. What is the balance in the cash account at the e..

Define the term budgetary slack : Greg Weetman is the controller of a large security technology firm. He is currently preparing the annual budget and reviewing the current business plan. The firm’s business unit managers prepare and assemble the detailed operating budgets with techni..

Disadvantages to tartan of accepting the current offer : Tomas Makinson , CEO of Tartan Enterprise, Inc. (TEI), is considering a special offer to manufacture a new line of men’s clothing for a large department store chain. TEI has specialized in designer men’s clothing sold in small, upscale retail clothin..

Transportation system has integrated transport networks : U&I Transportation System has integrated transport networks in three different regions in a developing country. These three markets have vast regional differences. To meet this goal in the three regions, should U&I Transportation System’s management ..

User Account

All Pages