A company had stock outstanding as follows during each of its first 3 years of operations: 4,000 shares of 8%, $100 par, cumulative preferred stock and 44,000 shares of $10 par common stock. The amounts distributed as dividends are presented in the following schedule. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. If necessary, round dividends per share to the nearest cent. If your answer is zero, please enter "0". Year 1 2 3 Dividends $24,000 32,000 38,280 Preferred Total Preferred Per Share Common Total 300 Common Per Share

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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A company had stock outstanding as follows during each of its first 3 years of operations: 4,000 shares of 8%, $100 par, cumulative preferred
stock and 44,000 shares of $10 par common stock. The amounts distributed as dividends are presented in the following schedule.
Determine the total and per-share dividends for each class of stock for each year by completing the schedule. If necessary, round dividends
per share to the nearest cent. If your answer is zero, please enter "0".
Year
1
2
3
Dividends
$24,000
32,000
38,280
Preferred
Total
Preferred
Per Share
$
Common
Total
Common
Per Share
Transcribed Image Text:A company had stock outstanding as follows during each of its first 3 years of operations: 4,000 shares of 8%, $100 par, cumulative preferred stock and 44,000 shares of $10 par common stock. The amounts distributed as dividends are presented in the following schedule. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. If necessary, round dividends per share to the nearest cent. If your answer is zero, please enter "0". Year 1 2 3 Dividends $24,000 32,000 38,280 Preferred Total Preferred Per Share $ Common Total Common Per Share
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