Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulativepreferred 2% stock, $25 par, and 19,000 shares of $100 par common. During its first four years of operations, thefollowing 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 allanswers to two decimal places.

The dividend is declared to the shareholders from the retained earnings of the business. The…

Answered: Lightfoot Inc., a software development…

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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Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 80,000 shares of cumulative preferred 3% stock, $20 par and 410,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $31,000; second year, $72,000; third year, $80,000; fourth year, $110,000. Determine 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 "0.00".
nternal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 16,000 shares of cumulative preferred 1% stock, $120 par, and 53,000 shares of $5 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $12,800; second year, $35,600; third year, $61,860; fourth year, $116,190. Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places.
Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 70,000 shares of cumulative preferred 3% stock, $20 par and 410,000 shares of $25 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $32,000; second year, $73,000; third year, $100,000; fourth year, $120,000. Determine 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 "0.00". 1st Year 3rd Year 4th Year 2nd Year Preferred stock (dividends per share) $ $ Common stock (dividends per share) 100
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
Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 16,000 shares of cumulative preferred 2% stock, $160 par, and 53,000 shares of $15 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $34,240; second year, $78,160; third year, $98,180; fourth year, $124,870. Compute 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".
Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 14,000 shares of cumulative preferred 3% stock, $140 par, and 47,000 shares of $10 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $39,340; second year, $88,260; third year, $105,820; fourth year, $124,130. Compute the dividend 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, leave it blank. 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) $4 Common stock (dividend per share)
Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 40,000 shares of comulative preferred 2% stock, $75 par, and 100,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $36,000; second year, $90,000; third year, $115,000; fourth year, $140,000. Compute the dividends per share on each class of stock for each of the four years.
A company had stock outstanding as follows during each of its first three years of operations: 4,000 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". Year 1 23 Dividends $30,000 40,000 62,810 Total Preferred Per Share Total Common Per Share
A company had stock outstanding as follows during each of its first three years of operations: 4,000 shares of 9%, $100 par, cumulative preferred stock and 37,000 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 $27,000 $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 2 36,000 $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 $fill in the blank 8 3 55,880 $fill in the blank 9 $fill in the blank 10 $fill in the blank 11 $fill in the blank 12
Seacrest Company has 15,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of $10 par common stock. The following amounts were distributed as dividends: Year 1 $37,500 Year 2 12,000 Year 3 45,000 Determine the dividend per share for preferred and common stock for each year. Round all answers to two decimal places.
Windborn Company has 20,000 shares of cumulative preferred 2% stock, $100 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends: 20Y1 $80,000 20Y2 20,000 20Y3 120,000 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'.

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