York’s outstanding stock consists of 80,000 shares of
noncumulative 7.5% preferred stock with a $5 par value and
also 200,000 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.
2016 total cash dividends | $ | 20,000 | 2018 total cash dividends | $ | 200,000 |
2017 total cash dividends | 28,000 | 2019 total cash dividends | 350,000 | ||
Exercise 11-9 Dividends on common and cumulative preferred stock LO C2
Determine the amount of dividends paid each year to each of the
two classes of stockholders assuming that the preferred stock is
cumulative. Also determine the total dividends paid to
each class for the four years combined. (Round your
"Dividend per Preferred Share" answers to 3 decimal
places.)
Par Value per Preferred Share | Dividend Rate | Dividend per Preferred Share | Number of Preferred Shares | Preferred Dividend | |
Annual Preferred Dividend: | |||||
Total Cash Dividend Paid | Paid to Preferred | Paid to Common | Dividends in Arrears at year-end | ||
2016 | $20,000 | ||||
2017 | 28,000 | ||||
2018 | 200,000 | ||||
2019 | 350,000 | ||||
Totals | $598,000 |
Solution
Par Value per Preferred share | Dividend rate | Dividend per preffred share | Number of preffered shares | Preffered Dividend | |
Annual Prefrred Dividend: | 5 | 7.50% | $ 0.375 | 80000 | $ 30,000.00 |
Total Cash dividend Paid | Paid to Preferred | Paid to common | Dividends in arear at year-end | ||
2016 | $ 20,000.00 | $ 20,000.00 | $ 0 | $ 10,000 | |
2017 | $ 28,000.00 | $ 28,000.00 | $ 0 | $ 12,000 | |
2018 | $ 200,000.00 | $ 42,000.00 | $ 158,000 | ||
2019 | $ 350,000.00 | $ 30,000.00 | $ 320,000 | ||
Total | $ 598,000.00 | $ 120,000.00 | $ 478,000.00 | $ 22,000.00 |
York’s outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par...
York’s outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 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. 2016 total cash dividends $ 20,000 2018 total cash dividends $ 200,000 2017 total cash dividends 28,000 2019 total cash dividends 350,000 Determine the amount of dividends paid each year to each of...
York’s outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 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. 2016 total cash dividends $ 20,000 2018 total cash dividends $ 200,000 2017 total cash dividends 28,000 2019 total cash dividends 350,000 Exercise 11-8 Dividends on common and noncumulative preferred stock LO C2 Determine...
York's outstanding stock consists of 80,000 shares of cumulative 5% preferred stock with a $5 par value and also 200,000 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 2015 $ 20,000 2016 28,000 2017 200,000 2018 350,000 Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine...
York’s outstanding stock consists of 90,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 270,000 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: 2015 total cash dividends $ 23,000 2016 total cash dividends 31,700 2017 total cash dividends 235,000 2018 total cash dividends 385,000 Determine the amount of dividends paid each year to each of the two...
York’s outstanding stock consists of 60,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 170,000 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. 2016 total cash dividends $ 10,700 2018 total cash dividends $ 290,000 2017 total cash dividends 20,500 2019 total cash dividends 440,000 Determine the amount of dividends paid each year to each of...
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. $ 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 Determine the amount of dividends paid each year to...
[The following information applies to the questions displayed below.]York’s outstanding stock consists of 75,000 shares of noncumulative 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. Year 1 total cash dividends$18,600Year 2 total cash dividends28,000Year 3 total cash dividends270,000Year 4 total cash dividends420,000Use the data in Exercise 13-10 to determine the number of dividends...
York's outstanding stock consists of 80,000 shares of noncumulative 7.0% preferred stock with a $5 par value and also 140,000 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. $ Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends 16,500 26,000 275,000 425,000 Exercise 13-11 Dividends on common and cumulative preferred stock...
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Part 2 of 2 York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 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. 14.28 points 2016 total cash dividends 2017 total cash dividends $...
York's outstanding stock consists of 80,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 300.000 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. Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $13,000 22,000 250,000 400,000 Determine the amount of dividends paid each year to each...