Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $80,000; 2012, $90,000; 20Y3, $150,000; 20Y4, $150,000; 2015, $160,000; and 20Y6, $180,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 250,000 shares of cumulative, preferred 2% stock, $20 par, and 500,000 shares of common stock, $15 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 20Y1. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Year Total Dividends Total 20Y1 $ 80,000 20Y2 90,000 20Y3 150,000 20Y4 150,000 20Y5 160,000 20Y6 180,000 Common Dividends Per Share Total Per Share 2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places. Average annual dividend for preferred per share Average annual dividend for common per share
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $80,000; 2012, $90,000; 20Y3, $150,000; 20Y4, $150,000; 2015, $160,000; and 20Y6, $180,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 250,000 shares of cumulative, preferred 2% stock, $20 par, and 500,000 shares of common stock, $15 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 20Y1. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Year Total Dividends Total 20Y1 $ 80,000 20Y2 90,000 20Y3 150,000 20Y4 150,000 20Y5 160,000 20Y6 180,000 Common Dividends Per Share Total Per Share 2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places. Average annual dividend for preferred per share Average annual dividend for common per share
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 56P
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Transcribed Image Text:Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1,
$80,000; 2012, $90,000; 20Y3, $150,000; 20Y4, $150,000; 2015, $160,000; and 20Y6, $180,000. During the entire period ended December 31 of each year, the outstanding
stock of the company was composed of 250,000 shares of cumulative, preferred 2% stock, $20 par, and 500,000 shares of common stock, $15 par.
Required:
1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of
20Y1. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0".
Preferred Dividends
Year
Total
Dividends
Total
20Y1
$ 80,000
20Y2
90,000
20Y3
150,000
20Y4
150,000
20Y5
160,000
20Y6
180,000
Common Dividends
Per Share
Total
Per Share
2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places.
Average annual dividend for preferred
per share
Average annual dividend for common
per share
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