I need help with this Exercise 11-11 Dlvidends on common and cumulative preferred stock LO C2York's outstanding stock consists of 60,000 shares of cumulative 8.0% preferred stock with a $5 par value and also 280,000 shares ccommon stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cashdividends: (Round your "Dividend per Preferred Share" answer to 3 decimal places.)Par Value perPreferredDividend perPreferredShareNumber ofPreferredSharesPreferredDividendDividend RateShareAnnual Preferred Dividend:Dividends inTotal CashDividend PaidPaid toPaid toPreferredArrears atCommonyear-end13.20022.000Year 1%$4Year 2240,000390,000Year 3Year 4Totals665,200< Prev11of 13Next > Required informationUse the following information for the Exercises below.[The following information applies to the questions displayed below.]Year 1 total cash dividendsYear 2 total cash dividendsYear 3 total cash dividendsYear 4 total cash dividendsS 13,20022,000240,000390, 000

Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share x rate of dividend = 60000*5*8% = $24,000 Par value per preferred share Dividend rate Dividend per preferred share Number of preferred shares Preferred dividend Annual preferred dividend $5 8% $0.40 60000 $24,000 Total cash dividend paid Paid to preferred Paid to common Dividend in arrears at year end 1st Year $13200 $13200 0 $10800 2nd Year 22000 22000 0 12800 3rd Year 240000 36800 203200 0 4th Year 390000 24000 366000 0 Totals $665200 $96000 $569200 0

Business

Accounting

York's outstanding stock consists of 60,000 shares of cumulative 8.0% preferred stock with a $5 par value and also 280,000 shares common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Number of Preferred Shares Dividend per Par Value per Preferred Share Preferred Dividend Dividend Rate Preferred Share Annual Preferred Dividend: Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 2$ 13,200 Year 2 22,000 Year 3 240,000 Year 4 390,000 Totals 24 665,200

York's outstanding stock consists of 60,000 shares of cumulative 8.0% preferred stock with a $5 par value and also 280,000 shares common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Number of Preferred Shares Dividend per Par Value per Preferred Share Preferred Dividend Dividend Rate Preferred Share Annual Preferred Dividend: Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 2$ 13,200 Year 2 22,000 Year 3 240,000 Year 4 390,000 Totals 24 665,200

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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