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Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $16,000; Year 2, $48,000; Year 3, $72,000; Year 4, $88,000; Year 5, $112,000; and Year 6, $140,000. During the entire period ending December 31 of each year the outstanding stock of the company was composed of 20,000 shares of cumulative, 2% preferred stock, $100 par, and 100,000 shares of common stock, $20 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Total Dividends $ 16,000 48,000 72,000 88,000 112,000 140,000 Total 16,000 ✓ 48,000 ✓ Per Share ✓ 2.40 ✔ 0.80 Total 0 0 ✓ ✓ boooogd; Per Share

Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $16,000; Year 2, $48,000; Year 3, $72,000; Year 4, $88,000; Year 5, $112,000; and Year 6, $140,000. During the entire period ending December 31 of each year the outstanding stock of the company was composed of 20,000 shares of cumulative, 2% preferred stock, $100 par, and 100,000 shares of common stock, $20 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Total Dividends $ 16,000 48,000 72,000 88,000 112,000 140,000 Total 16,000 ✓ 48,000 ✓ Per Share ✓ 2.40 ✔ 0.80 Total 0 0 ✓ ✓ boooogd; Per Share

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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< Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $16,000; Year 2, $48,000; Year 3, $72,000; Year 4, $88,000; Year 5, $112,000; and Year 6, $140,000. During the entire period ending December 31 of each year, the outstanding stock of the company was composed of 20,000 shares of cumulative, 2% preferred stock, $100 par, and 100,000 shares of common stock, $20 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Total Dividends $ 16,000 48,000 72,000 88,000 112,000 140,000 Total 16,000 ✓ 48,000 Per Share 0.80 2.40 ✓ 100: Total 0 ✓ 0 ✓ 0000 Per Share 0 0
Transcribed Image Text:< Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $16,000; Year 2, $48,000; Year 3, $72,000; Year 4, $88,000; Year 5, $112,000; and Year 6, $140,000. During the entire period ending December 31 of each year, the outstanding stock of the company was composed of 20,000 shares of cumulative, 2% preferred stock, $100 par, and 100,000 shares of common stock, $20 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Total Dividends $ 16,000 48,000 72,000 88,000 112,000 140,000 Total 16,000 ✓ 48,000 Per Share 0.80 2.40 ✓ 100: Total 0 ✓ 0 ✓ 0000 Per Share 0 0
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