FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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 75,000 shares of cumulative 8.0% preferred stock with a $5 par value and also 130,000 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 $ 5.00 Total Cash Dividend Paid $ > Answer is complete but not entirely correct. Dividend per Preferred Share S $ 18,600 28,000 270,000 420,000 18,600 28,000 270,000 420,000 736,600 $ Dividend Rate 8.0%✔ $ Paid to Preferred $ 0.400✔ Paid to Common 18,600 28,000✔ 43,400✔ 30,000✔ $ 120,000 $ 630,000 0 0✓ 240,000 x 390,000✔ Number of Preferred Shares 75,000 $ Dividends in Arrears at year-end $ Preferred Dividend 0x 0 x 0✓ 0✔ 30,000
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Transcribed Image Text: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 75,000 shares of cumulative 8.0% preferred stock with a $5 par value and also 130,000 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 $ 5.00 Total Cash Dividend Paid $ > Answer is complete but not entirely correct. Dividend per Preferred Share S $ 18,600 28,000 270,000 420,000 18,600 28,000 270,000 420,000 736,600 $ Dividend Rate 8.0%✔ $ Paid to Preferred $ 0.400✔ Paid to Common 18,600 28,000✔ 43,400✔ 30,000✔ $ 120,000 $ 630,000 0 0✓ 240,000 x 390,000✔ Number of Preferred Shares 75,000 $ Dividends in Arrears at year-end $ Preferred Dividend 0x 0 x 0✓ 0✔ 30,000
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