amount Correct answer $enter a dollar amount Correct answer
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Preferred stock—calculate dividend amounts Dedrick Inc. did not pay dividends in 2021 or 2022, even though 60,000 shares of its 7.5%, $50 par value cumulative preferred stock were outstanding during those years. The company has 900,000 shares of $2 par value common stock outstanding. Required: a. Calculate the annual dividend per share obligation on the preferred stock. b. Calculate the amount that would be received by an investor who has owned 3,100 shares of preferred stock and 29,000 shares of common stock since 2020 if a $0.40 per share dividend on the common stock is paid at the end of 2023.
Knudsen Bakeries was organized on January 1, 2019. During its first year, the company issued 2,000 shares of HK$50 par value preference shares and 100,000 shares of HK$10 par value ordinary shares. At December 31, the company declared the following cash dividends: 2019, HK$5,000; 2020, HK$12,000; and 2021, HK$28,000 (HK$ in thousands). Instructions: a. Show the allocation of dividends to each class of shares, assuming the preference share dividend is 6% and non-cumulative. b. Show the allocation of dividends to each class of shares, assuming the preference share dividend is 7% and cumulative. c. Journalize the declaration of the cash dividend at December 31, 2021, under part (b).
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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 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 places.)
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