Kerry Company has 700 shares of $100 par value, 11% preferred stock and 9,200 shares of $10 par value common stock outstanding. The preferred stock is cumulative and nonparticipating. Dividends were paid in 2012. Since 2012, Kerry has declared and paid dividends as follows: 50 8,500 16,900 21,300 2013 2014 2015 2016 Required: 1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2014 to 2016. If an amount is zero, enter "0" Common Dividends Preferred Dividends Year 2014 2015 2016 2. If the preferred stock had been nincumulative, ho much would have been allocated to the preferred and common stockholders each year? Year Preferred Dividends Common Dividends 2014 2015 1.500 2016 1,700 X
Kerry Company has 700 shares of $100 par value, 11% preferred stock and 9,200 shares of $10 par value common stock outstanding. The preferred stock is cumulative and nonparticipating. Dividends were paid in 2012. Since 2012, Kerry has declared and paid dividends as follows: 50 8,500 16,900 21,300 2013 2014 2015 2016 Required: 1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2014 to 2016. If an amount is zero, enter "0" Common Dividends Preferred Dividends Year 2014 2015 2016 2. If the preferred stock had been nincumulative, ho much would have been allocated to the preferred and common stockholders each year? Year Preferred Dividends Common Dividends 2014 2015 1.500 2016 1,700 X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Cash Dividends
Kerry Company has 700 shares of $100 par value, 11% preferred stock and 9,200 shares of $10 par value common stock outstanding. The preferred stock is
cumulative and nonparticipating. Dividends were paid in 2012. Since 2012, Kerry has declared and paid dividends as follows:
2013
2014
2015
2016
Required:
1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2014 to 2016. If an amount is zero, enter"0"
Year
Common Dividends
Preferred Dividends
2014
2015
2016
50
8,500
16,900
21,300
2015
2016
8500
2. If the preferred stock had been noncumulative, how much would have been allocated to the preferred and common stockholders each year?
Preferred Dividends
Common Dividends
Year
2014
7.700 X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7ddf1e52-17d0-47a9-956c-00bd0ce93716%2Fac7fc878-4051-4b28-a987-7a3d0a111d47%2Fyo9wgcp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Cash Dividends
Kerry Company has 700 shares of $100 par value, 11% preferred stock and 9,200 shares of $10 par value common stock outstanding. The preferred stock is
cumulative and nonparticipating. Dividends were paid in 2012. Since 2012, Kerry has declared and paid dividends as follows:
2013
2014
2015
2016
Required:
1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2014 to 2016. If an amount is zero, enter"0"
Year
Common Dividends
Preferred Dividends
2014
2015
2016
50
8,500
16,900
21,300
2015
2016
8500
2. If the preferred stock had been noncumulative, how much would have been allocated to the preferred and common stockholders each year?
Preferred Dividends
Common Dividends
Year
2014
7.700 X
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