Dividends Keener Company has had 1,200 shares of 8%, $100 par preferred stock and 36,000 shares of $5 stated-value common stock outstanding for the last 3 years. During that period, dividends paid totaled $8,400, $30,600, and $31,800 for each year, respectively. Required: Compute the amount of dividends that Keener must have paid to preferred shareholders and common shareholders in each of the 3 years, given the following 3 independent assumptions: If an amount is zero, enter "0". 1. Preferred stock is nonparticipating and noncumulative. Keener Company Schedule of Dividends Preferred Common Total Year 1 $fill in the blank 663533fdff8c051_1 $fill in the blank 663533fdff8c051_2 $fill in the blank 663533fdff8c051_3 Year 2 $fill in the blank 663533fdff8c051_4 $fill in the blank 663533fdff8c051_5 $fill in the blank 663533fdff8c051_6 Year 3 $fill in the blank 663533fdff8c051_7 $fill in the blank 663533fdff8c051_8 $fill in the blank 663533fdff8c051_9 2. Preferred stock is nonparticipating and cumulative. Keener Company Schedule of Dividends Preferred Common Total Year 1 $fill in the blank df8c75fe504b054_1 $fill in the blank df8c75fe504b054_2 $fill in the blank df8c75fe504b054_3 Year 2 $fill in the blank df8c75fe504b054_4 $fill in the blank df8c75fe504b054_5 $fill in the blank df8c75fe504b054_6 Year 3 $fill in the blank df8c75fe504b054_7 $fill in the blank df8c75fe504b054_8 $fill in the blank df8c75fe504b054_9 3. Preferred stock is fully participating and cumulative. Keener Company Schedule of Dividends Preferred Common Total Year 1 $fill in the blank 2e9eae06ef8f05a_1 $fill in the blank 2e9eae06ef8f05a_2 $fill in the blank 2e9eae06ef8f05a_3 Year 2 $fill in the blank 2e9eae06ef8f05a_4 $fill in the blank 2e9eae06ef8f05a_5 $fill in the blank 2e9eae06ef8f05a_6 Year 3 $fill in the blank 2e9eae06ef8f05a_7 $fill in the blank 2e9eae06ef8f05a_8 $fill in the blank 2e9eae06ef8f05a_9

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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Dividends

Keener Company has had 1,200 shares of 8%, $100 par preferred stock and 36,000 shares of $5 stated-value common stock outstanding for the last 3 years. During that period, dividends paid totaled $8,400, $30,600, and $31,800 for each year, respectively.

Required:

Compute the amount of dividends that Keener must have paid to preferred shareholders and common shareholders in each of the 3 years, given the following 3 independent assumptions:
If an amount is zero, enter "0".

1. Preferred stock is nonparticipating and noncumulative.

Keener Company
Schedule of Dividends

	Preferred	Common	Total
Year 1	$fill in the blank 663533fdff8c051_1	$fill in the blank 663533fdff8c051_2	$fill in the blank 663533fdff8c051_3
Year 2	$fill in the blank 663533fdff8c051_4	$fill in the blank 663533fdff8c051_5	$fill in the blank 663533fdff8c051_6
Year 3	$fill in the blank 663533fdff8c051_7	$fill in the blank 663533fdff8c051_8	$fill in the blank 663533fdff8c051_9

2. Preferred stock is nonparticipating and cumulative.

Keener Company
Schedule of Dividends

	Preferred	Common	Total
Year 1	$fill in the blank df8c75fe504b054_1	$fill in the blank df8c75fe504b054_2	$fill in the blank df8c75fe504b054_3
Year 2	$fill in the blank df8c75fe504b054_4	$fill in the blank df8c75fe504b054_5	$fill in the blank df8c75fe504b054_6
Year 3	$fill in the blank df8c75fe504b054_7	$fill in the blank df8c75fe504b054_8	$fill in the blank df8c75fe504b054_9

3. Preferred stock is fully participating and cumulative.

Keener Company
Schedule of Dividends

	Preferred	Common	Total
Year 1	$fill in the blank 2e9eae06ef8f05a_1	$fill in the blank 2e9eae06ef8f05a_2	$fill in the blank 2e9eae06ef8f05a_3
Year 2	$fill in the blank 2e9eae06ef8f05a_4	$fill in the blank 2e9eae06ef8f05a_5	$fill in the blank 2e9eae06ef8f05a_6
Year 3	$fill in the blank 2e9eae06ef8f05a_7	$fill in the blank 2e9eae06ef8f05a_8	$fill in the blank 2e9eae06ef8f05a_9

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