Dividends Per Share
Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 12,000 shares of cumulative preferred 4% stock, $120 par, and 40,000 shares of $5 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $38,640; second year, $86,560; third year, $106,640; fourth year, $130,000.
Compute the dividends 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, enter "0".
1st Year | 2nd Year | 3rd Year | 4th Year | |
Preferred stock (dividend per share) | $ | $ | $ | $ |
Common stock (dividend per share) | $ | $ | $ | $ |
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows:
Jan. | 5. | Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,150,500 common shares outstanding. |
Mar. | 10. | Purchased 41,400 shares of the corporation’s own common stock at $28, recording the stock at cost. |
Apr. | 30. | Declared semiannual dividends of $0.80 on 74,100 shares of preferred stock and $0.12 on the common stock to stockholders of record on May 15, payable on June 15. |
June | 15. | Paid the cash dividends. |
Aug. | 20. | Sold 29,000 shares of treasury stock at $33, receiving cash. |
Oct. | 15 | Declared semiannual dividends of $0.80 on the preferred stock and $0.12 on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $36. The dividend date of record is November 15 payable on December 19. |
Dec. | 19. | Paid the cash dividends and issued the certificates for the common stock dividend. |
Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.
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Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.
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PAGE 10
JOURNAL
ACCOUNTING EQUATION
Score: 211/225
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Calculate dividend per share :
Preferred Dividend = 12000*120*4% = $57600
Compute the dividends 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, enter "0".
1st year | 2nd year | 3rd year | 4th year | |
Preferred Stock (dividend per share) | 38640/12000 = 3.22 | 76560/12000 = 6.38 | 57600/12000 = 4.80 | 57600/12000 = 4.80 |
Common stock (dividend per share) | 0 | 10000/40000 = 0.25 | 49040/40000 = 1.23 | 72400/40000 = 1.81 |
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