Required information Use the following information for the Exercises below. (Algo) [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 $ 18,000 28,000 300,000 450,000 Exercise 11-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 190,000 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: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Par Value per Preferred Share Dividend Rate Dividend per Number of Preferred Preferred Preferred Dividend Share Shares Annual Preferred Dividend: Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 $ 18,000 Year 2 28,000 Year 3 300,000 Year 4 450,000 Total: $ 796,000
Required information Use the following information for the Exercises below. (Algo) [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 $ 18,000 28,000 300,000 450,000 Exercise 11-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 190,000 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: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Par Value per Preferred Share Dividend Rate Dividend per Number of Preferred Preferred Preferred Dividend Share Shares Annual Preferred Dividend: Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 $ 18,000 Year 2 28,000 Year 3 300,000 Year 4 450,000 Total: $ 796,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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