Problem #2 York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Year 1 Year 2 Year 3 Year 4 $20,000 28,000 200,000 350,000 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined. Annual Preferred Dividend: Par Value per Preferred Share $5.00 Dividend Rate 7.5% Dividend per Preferred Share $0.375 Number of Preferred Shares 80,000 Preferred Dividend $30,000

Problem #2 York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Year 1 Year 2 Year 3 Year 4 $20,000 28,000 200,000 350,000 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined. Annual Preferred Dividend: Par Value per Preferred Share $5.00 Dividend Rate 7.5% Dividend per Preferred Share $0.375 Number of Preferred Shares 80,000 Preferred Dividend $30,000

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Description: Problem #2 York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5par value and also 200,000 shares of common stock with a $1 par value. During its first four years of operation,the corporation declared and

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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Problem 2. On January 1 Weiss Corporation had 75,000 shares of $0.5 par value common stock issued and outstanding. During the year, the following transactions occurred. Apr. 1 Issued 8,000 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30. Paid the $1.50 cash dividend. July 10 Dec. 1 Issued 4,000 additional shares of common stock for $12 per share. 15 Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31. Instructions (a) Prepare the entries for the above transactions. (b) How are dividends and dividends payable reported in the financial statements prepared at December 31?
[The following information applies to the questions displayed below.] Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends York's outstanding stock consists of 60,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 170,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Totals Par Value per Preferred Share Total Cash Dividend Paid $ $ $10,700 20,500 290,000 440,000 Dividend Rate 10,700 20,500 290,000 440,000 761,200 $ Paid to Preferred Dividend per Preferred Share 0 $ Paid to Common 0 Number of Preferred Shares Dividends in Arrears at year-end Preferred Dividend
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Dividends Per Share Seacrest Company has 25,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends: Year 1 $50,000 Year 2 20,000 Year 3 75,000 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'. Year 1 Year 2 Year 3 Preferred stock (Dividends per share) $ $ $ Common stock (Dividends per share) $ $ $
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Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends York's outstanding stock consists of 90,000 shares of cumulative 6.5% preferred stock with a $5 par value and also 100,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Annual Preferred Dividend: Year 1 Year 2 Year 3 Year 4 Totals Par Value per Preferred Share Total Cash Dividend Paid $ $ 18,100 27,200 255,000 $ 18,100 27,200 255,000 405,000 405,000 705,300 Dividend Rate Paid to Preferred Dividend per Preferred Share Paid to Common Number of Preferred Shares Dividends in Arrears at year-endi Preferred Dividend
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Subject: acounting