Required information [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 $ 16,500 26,000 275,000 425,000 York's outstanding stock consists of 80,000 shares of cumulative 7.0% preferred stock with a $5 par value and also 140,000 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. er is not com

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Required information
[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 80,000 shares of cumulative 7.0% preferred stock with a $5 par value and also 140,000 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
$
5.00✔
$
16,500
26,000
$ 16,500
26,000
275,000
425,000
275,000
425.000
742,500 |$
Answer is not complete.
Dividend
per
Preferred
Share
Dividend
Rate
7.0% $
Paid to
Preferred
0.350
Paid to
Common
|$ 16,500✔
26,000✔
28,000 X
28,000✔
98,500 $ 644,000
247,000 X
397,000✔✔
Number of
Preferred
Shares
Preferred
Dividend
80,000 $ $ 28,000✔
Dividends
in Arrears
at year-end
Transcribed Image Text:Required information [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 80,000 shares of cumulative 7.0% preferred stock with a $5 par value and also 140,000 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 $ 5.00✔ $ 16,500 26,000 $ 16,500 26,000 275,000 425,000 275,000 425.000 742,500 |$ Answer is not complete. Dividend per Preferred Share Dividend Rate 7.0% $ Paid to Preferred 0.350 Paid to Common |$ 16,500✔ 26,000✔ 28,000 X 28,000✔ 98,500 $ 644,000 247,000 X 397,000✔✔ Number of Preferred Shares Preferred Dividend 80,000 $ $ 28,000✔ Dividends in Arrears at year-end
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