Question

May 10, A Company issued For Cash 1,500 S... On April 1, 10,000 Shares of SS Par Commons Test #2 Chapters 128 13 A company had stock outstanding as follows during each of its first three years of operations: 3,000 shares of 9%, $100 par, cumulative preferred stock and 59,000 shares of $10 par common stock. The amounts distributed as dividends are presented below. Determine the total and per share dividends for each class of stock for each year by completing the schedule. Round dividends per share to the nearest cent. Enter *o* no dividends are paid. Preferred common Dividends Total Per Share Tot To 0,250 7,000 ,320 Previous

Answer 1

Cumulative 3000 shares of af. $100 por preferred shares 59000 shares of common stock $10 par. * for Cumulative preferred stock the dividend will get accumulated if not paid in any year. If not paid in year then it will be paid in year a every year Dividend to cumulative preferred Shares is (3000x100) xq= 27000. year Dividends D 20250 Preferred hrus common Total Pershaue Total Pershare. 20250 6.8 oo o 27000 27000 q 0 0 3 40 320 33750 11.3 6570 O.N e) in year / here, 33750 => 6750 is not paid therefore it will be pard in year 3. In yeau 3 27000 + 6750 = 33750.