C Accounting question lCt ×\\M (no subject)-esnos30@ onnect Secure l https://new

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C Accounting question lCt ×M (no subject)-esnos30@ onnect Secure l https://newconnect.mheducation.com/flow/connect.html CHAPTER 11 HOMEWORK requirea inrormation The following information applies to the questions displayed below. York's outstanding stock consists of 80,000 shares of noncumulative 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: Part 1 of 2 10 points 2015 total cash dividends 2816 total cash dividends 2017 total cash dividends 2018 total cash dividends 18,800 28,600 300,008 450,088 eBook Hint 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 decimal Print References places. ar per dend per Number Prefe Dividend Preferred Dividend Rate Preferred Preferred S Total Cash Share Share Shares Annual Preferred Dividend: 5.00 75% 80,000 Paid to Preferred Paid to Common v Dividends in Arrears a year-end Dividend Paid 18,000 S 28,000 300,000 450,000 796,000 46,000 18,000 2015 2016 2017 2018 Total: 28,000 KPre 4 5 of 13 Next> Graw

Explanation / Answer

Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: 5 7.50% 0.375 80,000 30000 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 2015 18000 18000 2016 28,000 28,000 2017 3,00,000 44,000 2,56,000 2018 4,50,000 30,000 4,20,000 Total: 796000 120000 676000

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