FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Entries for Cash Dividends
The declaration, record, and payment dates in connection with a cash dividend of $79,600 on a corporation's common stock are January 12, March 13, and April 12.
If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.
Jan. 12 Cash Dividends
Cash Dividends Payable
Mar. 13 No Entry Required
No Entry Required
Apr. 12 Cash Dividends Payable
Cash
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Transcribed Image Text:Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend of $79,600 on a corporation's common stock are January 12, March 13, and April 12. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 12 Cash Dividends Cash Dividends Payable Mar. 13 No Entry Required No Entry Required Apr. 12 Cash Dividends Payable Cash
Dividends Per Share
Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 13,000 shares of cumulative preferred 4% stock, $110 par, and 43,000 shares of $20 par common. During its first four
years of operations, the following amounts were distributed as dividends: first year, $38,350; second year, $86,050; third year, $103,300; fourth year, $121,700.
Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, leave it blank.
1st Year
2nd Year
3rd Year
4th Year
Preferred stock (dividend per share)
Common stock (dividend per share)
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Transcribed Image Text:Dividends Per Share Internal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 13,000 shares of cumulative preferred 4% stock, $110 par, and 43,000 shares of $20 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $38,350; second year, $86,050; third year, $103,300; fourth year, $121,700. Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, leave it blank. 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) Common stock (dividend per share)
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