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Identifying and Analyzing Financial Statement Effects of Dividends The statement of shareholders' equity of Reliable Storage Corporation for the year ended December 31, reports the following dividends paid to shareholders ($ thousands). Distributions to equity holders Preferred shares $346,106 Common shares $2,234,182 The year-end balance sheet includes the following ($ thousands except share data). Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 161,000 shares issued and outstanding $6,440,000 Common Shares, $0.10 par value, 650,000,000 shares authorized, 174,130,881 shares issued and outstanding $27,861 a. Use the financial statement effects template to indicate the effects of (a) the preferred dividend declaration and payments and (b) the common dividend declaration and payments. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. ($ thousands) Transaction (a) Preferred dividend payment (b) Common dividend payment Dividends per Share Preferred shareholders: $ Common shareholders: $ Check Cash Cash Cash Asset 0.94 x 0.01 X (346,106) ✔ (2,234,182) ✔ ◆ N/A b. Determine the dividends per share for both classes of stock. Note: Round your answers to two decimal places (for example, enter 67.49 for 67.48555). N/A Noncash Assets 0✔= → ✓ N/A 0✓= N/A Balance Sheet Liabilities 0✔ → 0✔ ◆ N/A N/A Contrib. Capital

Identifying and Analyzing Financial Statement Effects of Dividends The statement of shareholders' equity of Reliable Storage Corporation for the year ended December 31, reports the following dividends paid to shareholders ($ thousands). Distributions to equity holders Preferred shares $346,106 Common shares $2,234,182 The year-end balance sheet includes the following ($ thousands except share data). Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 161,000 shares issued and outstanding $6,440,000 Common Shares, $0.10 par value, 650,000,000 shares authorized, 174,130,881 shares issued and outstanding $27,861 a. Use the financial statement effects template to indicate the effects of (a) the preferred dividend declaration and payments and (b) the common dividend declaration and payments. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. ($ thousands) Transaction (a) Preferred dividend payment (b) Common dividend payment Dividends per Share Preferred shareholders: $ Common shareholders: $ Check Cash Cash Cash Asset 0.94 x 0.01 X (346,106) ✔ (2,234,182) ✔ ◆ N/A b. Determine the dividends per share for both classes of stock. Note: Round your answers to two decimal places (for example, enter 67.49 for 67.48555). N/A Noncash Assets 0✔= → ✓ N/A 0✓= N/A Balance Sheet Liabilities 0✔ → 0✔ ◆ N/A N/A Contrib. Capital

Financial Accounting
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter13: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 3PA: The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the...
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Identifying and Analyzing Financial Statement Effects of Dividends The statement of shareholders' equity of Reliable Storage Corporation for the year ended December 31, reports the following dividends paid to shareholders ($ thousands). Distributions to equity holders $346,106 $2,234,182 Preferred shares Common shares The year-end balance sheet includes the following ($ thousands except share data). Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 161,000 shares issued and outstanding $6,440,000 Common Shares, $0.10 par value, 650,000,000 shares authorized, 174,130,881 shares issued and outstanding $27,861 a. Use the financial statement effects template to indicate the effects of (a) the preferred dividend declaration and payments and (b) the common dividend declaration and payments. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. ($ thousands) Transaction (a) Preferred dividend payment (b) Common dividend payment Dividends per Share Preferred shareholders: $ Common shareholders: $ Check Cash Cash Cash Asset 0.94 * 0.01 X (346,106) (2,234,182) b. Determine the dividends per share for both classes of stock. Note: Round your answers to two decimal places (for example, enter 67.49 for 67.48555). N/A N/A Noncash Assets O 0 N/A N/A Balance Sheet Liabilities 0✔ ◆ N/A N/A Contrib. Capital
Transcribed Image Text:Identifying and Analyzing Financial Statement Effects of Dividends The statement of shareholders' equity of Reliable Storage Corporation for the year ended December 31, reports the following dividends paid to shareholders ($ thousands). Distributions to equity holders $346,106 $2,234,182 Preferred shares Common shares The year-end balance sheet includes the following ($ thousands except share data). Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 161,000 shares issued and outstanding $6,440,000 Common Shares, $0.10 par value, 650,000,000 shares authorized, 174,130,881 shares issued and outstanding $27,861 a. Use the financial statement effects template to indicate the effects of (a) the preferred dividend declaration and payments and (b) the common dividend declaration and payments. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. ($ thousands) Transaction (a) Preferred dividend payment (b) Common dividend payment Dividends per Share Preferred shareholders: $ Common shareholders: $ Check Cash Cash Cash Asset 0.94 * 0.01 X (346,106) (2,234,182) b. Determine the dividends per share for both classes of stock. Note: Round your answers to two decimal places (for example, enter 67.49 for 67.48555). N/A N/A Noncash Assets O 0 N/A N/A Balance Sheet Liabilities 0✔ ◆ N/A N/A Contrib. Capital
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