I need help with this Required informationUse the following information for the Exercises below.(The following information applies to the questions displayed below.]Year 1 total cash dividends S 13,200Year 2 total cash dividendsYear 3 total cash dividendsYear 4 total cash dividends22,000240,000390, 000 York's outstanding stock consists of 60,000 shares of noncumulative 8.0% preferred stock with a $5 par value and also 280,000shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the followingtotal cash dividends:Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your"Dividend per Preferred Share" answer to 3 decimal places.)Par Value perPreferredShareDividend perPreferredShareNumber ofPreferredDividendDividend RatePreferredSharesAnnual Preferred Dividend:Dividends inTotal CashPaid toPaid toArrears atDividend PaidPreferredCommonyear-endYear 1$413.200Year 222,000Year 3240,000Year 4390,000Total:$4665,200< Prev1011of 13Next >

solution concept The dividend in arrear shall not be paid to the non cumulative preference shareholder The dividend to common share holder shall be paid after the payment to preferred shareholder Given Rate of preferred dividend =8% non cumulative Par value of preference share =$5 Par value of common share =$1 Par value per preferred share Dividend rate Dividend per preferred shares Number of preferred shares Preferred dividend Annual preferred dividend $5 8% $0.4 60000 $24000 Total cash dividend paid Paid to preferred Paid to common Dividends in arrear at year end Year 1 $13,200 $13,200 0 $10,800 Year2 22000 22000 0 $2,000 Year 3 240000 $24,000 $216,000 0 Year 4 390000 $24,000 $366,000 0 Total $665,200 $83,200 $582,000 $12,800

Business

Accounting

Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and c "Dividend per Preferred Share" answer to 3 decimal places.) Par Value per Preferred Share Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Rate Dividend Annual Preferred Dividend: Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 24 13,200 Year 2 22,000 Year 3 240,000 Year 4 390,000 Total: $4 665,200

Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and c "Dividend per Preferred Share" answer to 3 decimal places.) Par Value per Preferred Share Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Rate Dividend Annual Preferred Dividend: Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 24 13,200 Year 2 22,000 Year 3 240,000 Year 4 390,000 Total: $4 665,200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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