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 $ 13,900 23,500 280,000 430,000 Exercise 11-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 85,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 150,000 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. Answer is not complete. Par Value per Preferred Dividend Rate Share Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: Total Cash Dividend Paid to Preferred Paid Paid to Common Dividends in Arrears at year- end Year 1 $ 13,900 $ 13,900 $ 0 Year 2 23,500 23,500 0 Year 3 280,000 Year 4 430,000 25,500 404,500 Total: $ 747,400 $ 62,900 $ 404,500
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 $ 13,900 23,500 280,000 430,000 Exercise 11-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 85,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 150,000 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. Answer is not complete. Par Value per Preferred Dividend Rate Share Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: Total Cash Dividend Paid to Preferred Paid Paid to Common Dividends in Arrears at year- end Year 1 $ 13,900 $ 13,900 $ 0 Year 2 23,500 23,500 0 Year 3 280,000 Year 4 430,000 25,500 404,500 Total: $ 747,400 $ 62,900 $ 404,500
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter11: Stockholders' Equity
Section: Chapter Questions
Problem 11.1E
Related questions
Question
Dinesh bhai
![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
$ 13,900
23,500
280,000
430,000
Exercise 11-11 (Algo) Dividends on common and noncumulative preferred stock LO C2
York's outstanding stock consists of 85,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 150,000
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.
Answer is not complete.
Par Value
per
Preferred
Dividend
Rate
Share
Dividend
per
Preferred
Share
Number
of
Preferred
Shares
Preferred
Dividend
Annual Preferred
Dividend:
Total Cash
Dividend
Paid to
Preferred
Paid
Paid to
Common
Dividends
in Arrears
at year-
end
Year 1
$
13,900
$
13,900
$
0
Year 2
23,500
23,500
0
Year 3
280,000
Year 4
430,000
25,500
404,500
Total:
$ 747,400
$ 62,900
$ 404,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F451acabb-91f9-4ee8-bbe7-7b40dcce15bc%2F82e093c0-afd2-4ab5-a9ae-045e111540c3%2F4ngw38d_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
$ 13,900
23,500
280,000
430,000
Exercise 11-11 (Algo) Dividends on common and noncumulative preferred stock LO C2
York's outstanding stock consists of 85,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 150,000
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.
Answer is not complete.
Par Value
per
Preferred
Dividend
Rate
Share
Dividend
per
Preferred
Share
Number
of
Preferred
Shares
Preferred
Dividend
Annual Preferred
Dividend:
Total Cash
Dividend
Paid to
Preferred
Paid
Paid to
Common
Dividends
in Arrears
at year-
end
Year 1
$
13,900
$
13,900
$
0
Year 2
23,500
23,500
0
Year 3
280,000
Year 4
430,000
25,500
404,500
Total:
$ 747,400
$ 62,900
$ 404,500
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