Dividends Per Share

Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 22,000 shares of cumulative preferred 2% stock, $160 par, and 73,000 shares of $15 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $47,080; second year, $103,720; third year, $132,140; fourth year, $163,840.

Compute the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".

	1st Year	2nd Year	3rd Year	4th Year
Preferred stock (dividend per share)	$	$	$	$
Common stock (dividend per share)	$	$	$	$

On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 73,600 shares of $10 par common stock at $15, and on November 19, it issued for cash 15,320 shares of preferred stock, $45 par at $55.

Required:

A.	Journalize the entries for October 31 and November 19. Refer to the Chart of Accounts for exact wording of account titles.
B.	What is the total amount invested (total paid-in capital) by all stockholders as of November 19?

A. Journalize the entries for October 31 and November 19. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1
2
3
4
5
6

B. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?