Question 1: On December 31, 2018, Adelphi Corporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 16,000 shares of $10 par value common stock. Preferred dividends were paid in 2016 but were not paid in 2017. During 2018, Alpha distributed $30,000 in dividends. Use this information to determine for 2018 the dollar amount of dividends that will be distributed per Common Share.
Question 2: On March 1, 2019, Baltimore Corporation had 95,000 shares of common stock outstanding with a par value of $5 per share. On March 1, Baltimore Corporation authorized a 15% stock dividend when the market value was $14 per share. Use this information to calculate the amount either (debited) or credited to retained earnings. Enter as a negative number if retained earnings are debited and a positive number if retained earnings is credited.
Question 3: The Common Stock account for Baltimore Corporation on January 1, 2018 was $55,000. On July 1, 2018 Baltimore issued an additional 7,000 shares of common stock. The Common Stock is $5 par. There was neither Preferred Stock nor any Treasury Stock. Paid in Capital Excess to par Common Stock was $20,000 on January 1 and $40,000 on July 2 and net income was $110,500. Use this information to determine for December 31, 2018 the amount of Earnings per Share.
Question 4: For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $45,000, accounts receivable $145,000, inventories $96,000, prepaid expenses $17,000, accounts payable $74,000, and accrued expenses $62,000. Use this information to determine the Current Ratio.
Question 5: For the FY 2018, Frederick Company had net sales of $800,000 and net income of $55,000, paid income taxes of $27,500, and had before tax interest expense of $12,500. Use this information to determine the Times Interest Earned Ratio.
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