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 7.5% preferred stock with a $5 par value and also 190,000 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 $ $ $ 18,000 28,000 300,000 450,000 Dividend Rate 18,000 28,000 300,000 450,000 790,000 $ Paid to Preferred Dividend per Preferred Share 0 $ Paid to Common 0 Number of Preferred Shares Dividends in Arrears at year-end Preferred Dividend
Reporting Cash Flows
Reporting of cash flows means a statement of cash flow which is a financial statement. A cash flow statement is prepared by gathering all the data regarding inflows and outflows of a company. The cash flow statement includes cash inflows and outflows from various activities such as operating, financing, and investment. Reporting this statement is important because it is the main financial statement of the company.
Balance Sheet
A balance sheet is an integral part of the set of financial statements of an organization that reports the assets, liabilities, equity (shareholding) capital, other short and long-term debts, along with other related items. A balance sheet is one of the most critical measures of the financial performance and position of the company, and as the name suggests, the statement must balance the assets against the liabilities and equity. The assets are what the company owns, and the liabilities represent what the company owes. Equity represents the amount invested in the business, either by the promoters of the company or by external shareholders. The total assets must match total liabilities plus equity.
Financial Statements
Financial statements are written records of an organization which provide a true and real picture of business activities. It shows the financial position and the operating performance of the company. It is prepared at the end of every financial cycle. It includes three main components that are balance sheet, income statement and cash flow statement.
Owner's Capital
Before we begin to understand what Owner’s capital is and what Equity financing is to an organization, it is important to understand some basic accounting terminologies. A double-entry bookkeeping system Normal account balances are those which are expected to have either a debit balance or a credit balance, depending on the nature of the account. An asset account will have a debit balance as normal balance because an asset is a debit account. Similarly, a liability account will have the normal balance as a credit balance because it is amount owed, representing a credit account. Equity is also said to have a credit balance as its normal balance. However, sometimes the normal balances may be reversed, often due to incorrect journal or posting entries or other accounting/ clerical errors.
Rr.6
![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 7.5% preferred stock with a $5 par value and also 190,000 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
$
$
$ 18,000
28,000
300,000
450,000
Dividend Rate
18,000
28,000
300,000
450,000
790,000 $
Paid to
Preferred
Dividend per
Preferred
Share
0 $
Paid to
Common
0
Number of
Preferred
Shares
Dividends in
Arrears at
year-end
Preferred
Dividend](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F05d7fb52-84cc-44aa-9055-ab266c2b1556%2Fc2ffc5da-95dc-430f-a2ec-469d87da2952%2F5s3it4g_processed.jpeg&w=3840&q=75)
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