Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Night Audit Shenanigans With Winston No Longer Working At The Hotel Luna Is Dealing Without Days Off

Authors: Kentucky Elayne NightHawk

1st Edition

B0BYLVMSV7, 979-8361945702

More Books

Students also viewed these Accounting questions

Question

3. Yesim is really supportive when other students are upset.

Answered: 1 week ago