On June 1, 2019 Adelphi Corporation issued $210,000 of 6%, 5-year bonds. The bonds which were issued at 99, pay interest on January 1 and June 1.
1.) On June 1, 2019 Adelphi Corporation issued $210,000 of 6%, 5-year bonds. The bonds which were
issued at 99, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is premium amortization enter as a negative number.
2.) On December 31, 2018, Adelphi Corporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 8,000 shares of $10 par value common stock. Preferred dividends were paid in 2016 but were not paid in 2017. During 2018, Alpha distributed $40,000 in dividends. Use this information to determine for 2018 the dollar amount of dividends that will be distributed per Common Share. Round answer to closest cent.
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