Obj. 2BE 12-1 Dividends per shareZero Calories Company has 15,000 shares of cumulative preferred 1% stock, $50 par and 100,000shares of $10 par common stock. The following amounts were distributed as dividends:20Y12012$ 28,5006,0002013110,000Determine the dividends per share for preferred and common stock for each year.

Dividend per share refers to the amount of dividend that each shareholder is entitled to receive…

Answered: Obj. 2 -BE 12-1 Dividends per share…

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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Sanchez Company has 34,000 shares of 2% preferred stock of $100 par and 115,000 shares of $50 par common stock. The following amounts were distributed as dividends: Year 1 $558,000 Year 2 $441,000 Year 3 $501,000 Determine the dividends per share for preferred and common stock for each year. Round the dividends per share to the nearest cent. Year 1 Year 2 Year 3 Amount distributed $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Preferred dividend $fill in the blank 4 $fill in the blank 5 $fill in the blank 6 Common dividend $fill in the blank 7 $fill in the blank 8 $fill in the blank 9 Dividends per share: Preferred stock $fill in the blank 10 $fill in the blank 11 $fill in the blank 12 Common stock $fill in the blank 13 $fill in the blank 14 $fill in the blank 15
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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…
A-7
Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $768,750 $627,750 Preferred dividends $117,000 $117,000 Average number of common shares outstanding 55,000 shares 45,000 shares a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places. 20Y3 $fill in the blank 1 per share 20Y2 $fill in the blank 2 per share b. Does the change in the earnings per share from 20Y2 to 20Y3 indicate a favorable or unfavorable trend?
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Financial statement data for the years ended December 31 for Cottontop Corporation follow: 20Y3 20Y2 Net income $957,250 $832,250 Preferred dividends $146,000 $146,000 Average number of common shares outstanding 55,000 shares 45,000 shares a. Determine the earnings per share for 20Y3 and 20Y2. Round your answers to two decimal places. 20Y3 $fill in the blank 1 per share 20Y2 $fill in the blank 2 per share b. Does the change in the earnings per share from 20Y2 to 20Y3 indicate a favorable or unfavorable trend?Unfavorable
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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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