Task 1.1: Lentz Corporation was incorporated on Jan. 2, 2015. During the first year, they issued 20 000 no par value com

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Task 1 1 Lentz Corporation Was Incorporated On Jan 2 2015 During The First Year They Issued 20 000 No Par Value Com 1 (406.17 KiB) Viewed 36 times

Task 1.1: Lentz Corporation was incorporated on Jan. 2, 2015. During the first year, they issued 20 000 no par value common shares and 8 000 5% cumulative preferred shares with a stated value of $10. Answer the following unrelated questions: a) On Dec. 31, 2015, Lentz announces a dividend only for the preferred shareholders of record on Jan. 30, 2016. The payment is to be made Feb. 15, 2016. Show the calculation to determine the amount of the dividend and the entries required. b) On December 31, 2015, Lentz announces a $10 000 dividend for shareholders of record on Jan. 30, 2016. The payment is to be made Feb. 15, 2016. Show the calculation to determine the amount of the dividend each shareholder receives and the entries required. c) On December 31, 2015, Lentz announces it will not be paying a dividend. On Dec. 31, 2016, Lentz announces a $12 000 dividend for shareholders of record on Jan. 30, 2017. The payment is to be made Feb. 15, 2017. Show the calculation to determine the amount of the dividend each shareholder receives and the entries required. Task 1.2: Marinelli Corporation has 30 000 $5 stated value common shares outstanding. On Jun. 15, 2016 they declared a stock dividend. On Jul. 31, 2016 the company will issue one common share for each 15 held by shareholders on Jul. 1, 2016. Prepare all entries required.