FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Sandpiper Company has 10,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $10 par common stock. The following amounts were distributed as dividends: $37,500 6,000 45,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Preferred Stock (dividends per share) 15,000 X 20Y1 20Y2 20Y3 20Y1 20Y2 20Y3 $ 0 X 0 X Common Stock (dividends per share) LA LA 0 X 0 0 Xarrow_forwardA company had stock outstanding as follows during each of its first 3 years of operations: 1,000 shares of 9%, $100 par, cumulative preferred stock and 32,000 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 $6,750 9,000 25,580 Preferred Total Preferred Per Share Common Total Common Per Sharearrow_forwardDividends Per Share Windborn Company has 20,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of $10 par common stock. The following amounts were distributed as dividends: 20Y1 $30,00020Y2 16,00020Y3 60,000Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Preferred Stock(dividends per share) Common Stock (dividends per share)20Y1 $fill in the blank 1$fill in the blank 220Y2 $fill in the blank 3$fill in the blank 420Y3 $fill in the blank 5$fill in the blank 6arrow_forward
- Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were dıstributed as dividends: Year 1: $10,000 Year 2: 45,000 Year 3: 90,000 Determine the dividend per share for preferred and common stock for the first vear a. $0 and $0.10 O b. s0.50 and $0.10 C. $2.00 and $Oarrow_forwardKingbird Company has outstanding 2,700 shares of $100 par, 6% preferred stock and 14,300 shares of $10 par value common. The following schedule shows the amount of dividends paid out over the last 4 years. Allocate the dividends to each type of stock under assumptions (a) and (b). Express your answers in per share amounts using the format shown below. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to 2 decimal places, e.g. 6.85.) Paid- out $11,900 $ $25,800 $ $51,900 $ $69,400 $ (a) Preferred, noncumulative, and nonparticipating Preferred LA LA $ Common Assumptions LA LA LA $ (b) Preferred, cumulative, and fully participating Preferred LA LA $ Commonarrow_forwardSandpiper company has 20,000 share of 1% cumulative preferred stock of $100 par and 100,000 shares of $50 par common stock. The following amount were distributed as dividends; Year 1 $10,00 Year 2 $45,000 Year 3 $80,000 Determine the dividends per share for preferred and common stock for each year.arrow_forward
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