Question

York’s outstanding stock consists of 90,000 shares of noncumulative 7.5% preferred stock with a $5 par...

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 classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined.

Homework Answers

Answer #1

Answer:-

Years Total cash dividends paid Paid to Preferred Paid to Common Dividends in Arrears
(a) (b) (c=a-b)
2015 $23000 $23000 0 0
2016 $31700 $31700 0 0
2017 $235000 $33750 $201250 0
2018 $385000 $33750 $351250 0
Total 674700 122200 552500

Explanation:-

Par value per Preferred Share Dividend Rate Dividends per Preferrd share No. of Preferred shares Preferred Dividends
(a) (b) (c=a*b) (d) (e=c*d)
Annual preferrd dividend $5.00 7.50% $0.375 90000 $33750
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
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:    Year 1 total cash dividends $ 20,000 Year 2 total cash dividends 28,000 Year 3 total cash dividends 200,000 Year 4 total cash dividends 350,000 Determine the amount of dividends paid each year...
York’s outstanding stock consists of 90,000 shares of 6.5% preferred stock with a $5 par value...
York’s outstanding stock consists of 90,000 shares of 6.5% preferred stock with a $5 par value and also 100,000 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 $ 18,100 2016 total cash dividends 27,200 2017 total cash dividends 255,000 2018 total cash dividends 405,000 rev: 11_29_2018_QC_CS-149901 Determine the amount of dividends paid each year to each of the...
York’s outstanding stock consists of 85,000 shares of noncumulative 6.0% preferred stock with a $5 par...
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:    2015 total cash dividends $ 13,900 2016 total cash dividends 23,500 2017 total cash dividends 280,000 2018 total cash dividends 430,000 Determine the amount of dividends paid each year to each of the...
York’s outstanding stock consists of 85,000 shares of noncumulative 7.0% preferred stock with a $5 par...
York’s outstanding stock consists of 85,000 shares of noncumulative 7.0% preferred stock with a $5 par value and also 260,000 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 $ 19,100 Year 2 total cash dividends 27,700 Year 3 total cash dividends 230,000 Year 4 total cash dividends 380,000 Use the data in Exercise 11-10 to determine...
Required information [The following information applies to the questions displayed below.] York’s outstanding stock consists of...
Required information [The following information applies to the questions displayed below.] York’s outstanding stock consists of 90,000 shares of noncumulative 7.0% preferred stock with a $5 par value and also 160,000 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 $19,800 2016 total cash dividends 29,500 2017 total cash dividends 285,000 2018 total cash dividends 435,000 Determine the...
[The following information applies to the questions displayed below.] York’s outstanding stock consists of 75,000 shares...
[The following information applies to the questions displayed below.] York’s outstanding stock consists of 75,000 shares of 6.0% preferred stock with a $5 par value and also 240,000 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 $ 12,100 2016 total cash dividends 20,500 2017 total cash dividends 220,000 2018 total cash dividends 370,000 rev: 11_29_2018_QC_CS-149901 Determine the amount...
Required information [The following information applies to the questions displayed below.] York’s outstanding stock consists of...
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.    Year 1 total cash dividends $ 9,300 Year 2 total cash dividends 17,500 Year 3 total cash dividends 210,000 Year 4 total...
Green Planet Corp. has (a) 5,000 shares of noncumulative 10% preferred stock with a $2 par...
Green Planet Corp. has (a) 5,000 shares of noncumulative 10% preferred stock with a $2 par value and (b) 17,000 shares of common stock with a $0.01 par value. During its first two years of operation, Green Planet declared and paid the following total cash dividends. Compute the dividends paid each year to each of the two classes of stockholders: preferred and common.    Year 1 total cash dividends $ 800 Year 2 total cash dividends $ 1,700
Norton, Inc. has 10,000 shares of 6%, $100 par value, noncumulative preferred stock and 100,000 shares...
Norton, Inc. has 10,000 shares of 6%, $100 par value, noncumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2020, and December 31, 2021. The board of directors declared and paid a $50,000 dividend in 2020. In 2021, $110,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2021?
Halverstein Company's outstanding stock consists of 9,450 shares of cumulative 5% preferred stock with a $10...
Halverstein Company's outstanding stock consists of 9,450 shares of cumulative 5% preferred stock with a $10 par value and 4,050 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid Year 1 $ 0 Year 2 $ 8,100 Year 3 $ 36,000 The amount of dividends paid to preferred and common shareholders in Year 2 is: Multiple Choice $4,725 preferred;...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT