Lightfoot Inc., a software development firm, has stock outstanding as follows: 10,000 shares of cumulative preferred 4% stock, S25 par, and 13,000 shares of 575 par common.During its first four years of operations, the following amounts were distributed as dividends: first year, $3,800, second year, 36, 300; third vest, 529, 260; fourth year, 541,850, Determine the dividends per share on each class of stock for each of the four years, Round all answers to two decimal places. It no dewdends are paid in a gren year, enter "O".

Lightfoot Inc., a software development firm, has stock outstanding as follows: 10,000 shares of cumulative preferred 4% stock, S25 par, and 13,000 shares of 575 par common.During its first four years of operations, the following amounts were distributed as dividends: first year, $3,800, second year, 36, 300; third vest, 529, 260; fourth year, 541,850, Determine the dividends per share on each class of stock for each of the four years, Round all answers to two decimal places. It no dewdends are paid in a gren year, enter "O".

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 3PA: The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the...

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Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. In the space provided below, prepare the stockholders equity section of Chen Corporations balance sheet as of December 31, 2012. Use proper headings and provide full disclosure of all appropriate information. Chens corporate charter authorizes the issuance of 1,000 shares of preferred stock and 100,000 shares of common stock.
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