Question
Keener Company has had 1,300 shares of 6%, $100 par preferred stock and 34,000 shares of $5 stated value common stock outstanding for the last
Keener Company has had 1,300 shares of 6%, $100 par preferred stock and 34,000 shares of $5 stated value common stock outstanding for the last 3 years. During that period, dividends paid totaled $6,400, $24,500, and $29,100 for each year, respectively.
Required:
Compute the amount of dividends that Keener must have paid to preferred shareholders and common shareholders in each of the 3 years, given the following 3 independent assumptions: If an amount is zero, enter "0".
1. Preferred stock is nonparticipating and noncumulative.
Keener Company | |||
Schedule of Dividends | |||
Preferred | Common | Total | |
Year 1 | $ | $ | $ |
Year 2 | $ | $ | $ |
Year 3 | $ | $ | $ |
2. Preferred stock is nonparticipating and cumulative.
Keener Company | |||
Schedule of Dividends | |||
Preferred | Common | Total | |
Year 1 | $ | $ | $ |
Year 2 | $ | $ | $ |
Year 3 | $ | $ | $ |
3. Preferred stock is fully participating and cumulative.
Keener Company | |||
Schedule of Dividends | |||
Preferred | Common | Total | |
Year 1 | $ | $ | $ |
Year 2 | $ | $ | $ |
Year 3 | $ | $ | $ |
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