Whaley Strings, Inc. has outstanding 600,000 shares of $2 pa…

Whaley Strings, Inc. has outstanding 600,000 shares of $2 par common stock and 120,000 shares of no-par 6% preferred stock with a stated value of $5. The preferred stock is cumulative and nonparticipating. Dividends have been paid every year except the past two years and the current year. Assuming that $225,000 will be distributed as a dividend in the current year, how much will the common stockholders receive?

On January 1, 2029, Winterberry Corporation had 110,000 shar…

On January 1, 2029, Winterberry Corporation had 110,000 shares of its $5 par value common stock outstanding. On June 1, the corporation acquired 10,000 shares of stock to be held in the treasury. On December 1, when the stock’s market price was $15, the corporation declared a 15% stock dividend to be issued to stockholders of record on December 16, 2029. What was the impact of the 15% stock dividend on the balance of the retained earnings account?