A Corporation Had the Following Stock Outstanding When the Company's

question 90

Essay

A corporation had the following stock outstanding when the company's board of directors declared a $95,000 cash dividend during the current year:
$\begin{array}{|l|r|}\hline \text { Preferred stock, } \$ 100 \text { par, } 6 \%, 5,000 \text { shares issued } & \$ 500,000 \\\hline \text { Common stock, } \$ 10 \text { par, } 75,000 \text { shares issued } & \underline{750,000} \\\hline \text { Total } & \$ 1,250,000 \\\hline\end{array}$ Allocate the cash dividend between the preferred and common stockholders assuming the preferred stock is cumulative and nonparticipating and dividends are one year in arrears.

Grasp the functionality and advantages of formatting a range as a table.

Implement data validation for user input in worksheets.

Understand how to manipulate table styles and utilize table features such as the total row.

Use sorting functions effectively, understanding different types of sorts.

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Definitions:

Unrealized Intercompany Profits

Profits that result from transactions between parent and subsidiary companies that have not yet been realized through sales to external parties.

Equity Method

An accounting technique used by companies to record their investments in other companies, adjusting the investment for the investor's share of the investee's profits or losses.

Consolidated Inventory

The total value of all inventories held by a parent company and its subsidiaries, accounted for in a consolidated financial statement.

Unrealized Inventory Profits

Profits that are reported on paper through an increase in inventory value but have not yet been realized through sales.