Question
Common Dividends Pentel Accounting Company began in 2013 with 2,000,000 authorized and 450,000 issued and outstanding $7 par common shares. During 2013, Pentel entered into
Common Dividends
Pentel Accounting Company began in 2013 with 2,000,000 authorized and 450,000 issued and outstanding $7 par common shares. During 2013, Pentel entered into the following transactions:
Declared a $0.25 per-share cash dividend on March 24.
Paid the $0.25 per-share dividend on April 6.
Repurchased 12,000 common shares for the treasury at a cost of $17 each on May 9.
Sold 4,600 unissued common shares for $29 per share on June 19.
Declared a $0.30 per-share cash dividend on August 1.
Paid the $0.30 per-share dividend on September 14.
Declared and paid a 20% stock dividend on October 25 when the market price of the common stock was $26 per share.
Declared a $0.50 per-share cash dividend on November 20.
Paid the $0.50 per-share dividend on December 20.
Required:
What is the total dollar amount of dividends (cash and stock) for the year?
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