Keener Company has had 1,100 shares of 7%, $100 par preferred stock and 38,000 shares of $5 stated-value common stock outstanding for the last 3 years. During that period, dividends paid totaled $6,400, $27,700, and $32,100 foreach 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".3. Preferred stock is fully participating and cumulative.Keener CompanySchedule of DividendsYear 1Year 2Year 3Preferred6,400 ✔ $15,732X16,728 XCommon017,600✓X24,400 XTotal6,40027,70032,100

Answer:- Dividend meaning:- Dividend is that part of profit which is distributed to the…

Answered: Keener Company has had 1,100 shares of…

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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Halverstein Company's outstanding stock consists of 10,850 shares of cumulative 5% preferred stock with a $10 par value and 4,650 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid Year 1 $ 0 Year 2 $ 9,300 Year 3 $ 40,000 The amount of dividends paid to preferred and common shareholders in Year 2 is:
Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulative preferred 2% stock, $25 par, and 19,000 shares of $100 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,850; second year, $4,800; third year, $30, 240; fourth year, $59,750. Calculate the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places.
Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulative preferred 2% stock, $25 par, and 19,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,850; second year, $4,800; third year, $28,910; fourth year, $55,380. Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".
A company had stock outstanding as follows during each of its first three years of operations: 3,000 shares of 10%, $100 par, cumulative preferred stock and 33,000 shares of $10 par common stock. The amounts distributed as dividends follow. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. Round dividends per share to the nearest cent. If your answer is zero, please enter "0". Preferred Common Year Dividends Total Per Share Total Per Share 1 $22,500 $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 2 30,000 $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 $fill in the blank 8 3 43,230 $fill in the blank 9 $fill in the blank 10 $fill in the blank 11 $fill in the blank 12
The outstanding share capital of KTI Corporation consists of 2,950 preferred shares and 7,000 common shayes for which $280,000 was received. The preferred shares carry a dividend of $7 per share and have $100 stated value. Instructions: Assuming that the company has retained earnings of $95,000 that is to be entirely paid out in dividends and that preferred dividends were not paid during the two years preceding the current year, state how much each class of shares should receive under each of the following conditions. a. The preferred shares are cumulative and non-participating. b. The preferred shares are cumulative and participating. Do not round intermediate calculations but round answer to nearest dollar.
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The outstanding capital stock of Oriole Corporation consists of 1,900 shares of $100 par value, 8% preferred, and 4,700 shares of $50 par value common. Assuming that the company has retained earnings of $89,500, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions. a. The preferred stock is noncumulative and nonparticipating. (Round answers to O decimal places, e.g. 38,487.) Preferred b. The preferred stock is cumulative and nonparticipating. (Round answers to O decimal places, e.g. 38,487.) EA Preferred Common c. The preferred stock is cumulative and participating. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to O decimal places, e.g. 38,487.) Preferred LA Common Common
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Sweet Company’s outstanding stock consists of 1,900 shares of cumulative 5% preferred stock with a $100 par value and 10,900 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid Year 1 $ 2,900 Year 2 $ 6,900 Year 3 $ 36,500 The amount of dividends paid to preferred and common shareholders in year 3 is:Multiple Choice $28,500 preferred; $8,000 common. $9,500 preferred; $27,000 common. $0 preferred; $36,500 common. $18,700 preferred; $17,800 common. $36,500 preferred; $0 common.

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