Chap 11 Quiz XV) Virginia Commun/XVMinbox (33) aoaze.x.m cc https://newconnect.m
ID: 2433132 • Letter: C
Question
Chap 11 Quiz XV) Virginia Commun/XVMinbox (33) aoaze.x.m cc https://newconnect.mheducation.com/flow/connect.html iz Help Sav Required information The following information applies to the questions displayed below] York's outstanding stock consists of 65,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 220,000 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 2016 total cash dividends 2017 total cash dividends 2018 total cash dividends $9,30e 17,500 210,000 360,000 Determine the amount of dividends paid each year to each of the two classes of stockholders, preferred and common. Also compute the total dividends paid to each class for the four years combined (Round your "Dividend per Preferred Share" answers to 3 decime places.) Dividend per Number of Preferred Shares Dividend Par Value per Preferred Dividend Rate Preferred Preferred Share Share Annual Preferred Dividend Dividends in Total Cash Paid to Dividend Paid Preferred Common Arrears at ear end Prev 8 of 9l Next >Explanation / Answer
par value per preferred share dividend rate dividend per preferred share number of preferred share preferred dividend Annual preferred dividend 5.00 6% 0.30 65,000.00 19,500.00 Total cash dividend paid paid to preferred paid to common dividend in arrears at year end 9,300.00 9,300.00 - - 17,500.00 17,500.00 - - 210,000.00 19,500.00 190,500.00 - 360,000.00 19,500.00 340,500.00 - Preferred dividend should be paid first.Here it is non cumulating preferred stock so the preferreddividend is not a liabilityif it is not paid or declared.
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.