Answered: Exercise 11-12 (Algo) Dividends on… | bartleby

FINANCIAL ACCOUNTING

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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Question

Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
Year 1 total cash dividends
Year 2 total cash dividends
Year 3 total cash dividends
Year 4 total cash dividends
Exercise 11-12 (Algo) Dividends on common and cumulative preferred LO C2
York's outstanding stock consists of 60,000 shares of cumulative 7.5% preferred stock with a $5 par value and
also 170,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation
declared and paid the following total cash dividends: (Round your "Dividend per Preferred Share" answer to 3
decimal places.)
Annual Preferred Dividend:
Year 1
Year 2
Year 3
Year 4
Totals
Par Value per
Preferred
Share
Total Cash
Dividend Paid
$
$
$ 10,700
20,500
290,000
440,000
10,700
20,500
290,000
440,000
761,200
Dividend Rate
Paid to
Preferred
Dividend per Number of
Preferred Preferred
Share
Shares
Paid to
Common
Dividends in
Arrears at
year-end
Preferred
Dividend

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Dividends Per Share Seacrest Company has 25,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends: Year 1 $50,000 Year 2 20,000 Year 3 75,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Year 1 Year 2 Year 3 Preferred stock (Dividends per share) $ $ $ Common stock (Dividends per share) $ $ $
MC Qu. 11-153 A company has outstanding... A company has outstanding 13.50 million shares of $5.50 par common stock and 1.7 million shares of $4.70 par preferred stock. The preferred stock has an 9% dividend rate. The company declares $370,000 in total dividends for the year. Which of the following is correct if the preferred stockholders only have a current dividend preference? Multiple Choice O Preferred stockholders will receive the entire $370,000, and they must also be paid $53,000 before the end of the current accounting period. Common stockholders will receive nothing. Preferred stockholders will receive $33,300 or 9% of the total dividends. Common stockholders will receive the remaining $336,700. Preferred stockholders will receive the entire $370,000, and they must also be paid $53,000 sometime in the future before common stockholders will receive anything. Preferred stockholders will receive the entire $370,000, but will receive nothing more relating to this dividend…
Exercise 10-6 (Algo) Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3, 10-5) Italian Stallion has the following transactions during the year related to stockholders’ equity. February 1 Issues 4,900 shares of no-par common stock for $14 per share. May 15 Issues 700 shares of $10 par value, 7% preferred stock for $11 per share. October 1 Declares a cash dividend of $0.70 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
QUESTION 1 Ava Consulting issued 1180 shares of previously unissued common stock with a par value of $1. The selling price for the stock was $5 share The credit to Additional Paid in Capital - Common Stock would be $ per
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question on exercise 16.4
Dividends per share Windborn Company has 10,000 shares of cumulative preferred 1% stock, $50 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends: 20Y1 20Y2 20Y3 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Preferred Stock Common Stock (dividends per share) (dividends per share) 0. X 20Y1 20Y2 20Y3 Feedback $7,500 4,000 15,000 Check My Work 0.50 0.40 0.60 0.00 0.18 m

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