Lone Star Theatre Ltd. owns and operates movie theatres throughout central Canada. Lone Star Theatre has declared
Question:
Lone Star Theatre Ltd. owns and operates movie theatres throughout central Canada. Lone Star Theatre has declared the following annual dividends over a six-year period ended December 31 of each year: 2010, $7,500; 2011, $9,000; 2012, $30,000; 2013, $30,000; 2014, $40,000; and 2015, $48,500. During the entire period, the outstanding shares of the company comprised 10,000 $1 preferred shares and 50,000 common shares.
Instructions
Determine the total dividends declared on each class of share for each of the six years. No dividends were in arrears on January 1, 2010. Summarize the data in tabular form, using the following columnar headings:
Step by Step Answer:
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren