framer company has 4 000 shares of 9 100 par cumulative preferred stock outstanding 541393
E8-6A. Distribute dividend between preferred and common shareholders. (LO 2)
Framer Company has 4,000 shares of 9%, $100 par, cumulative preferred stock outstanding and 10,000 shares of $1 par value common stock outstanding. The company began operations on January 1, 2008. The cash dividends declared and paid during each of the first 3 years of Framer’s operations are shown. Calculate the amounts that went to the preferred and the common shareholders (SHs) each year.
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framer company has 4 000 shares of 9 100 par cumulative preferred stock outstanding 541393
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|
Total Dividends |
Dividends to |
|
|
Year |
Paid |
Preferred SHs |
|
2008 |
$120,000 |
|
|
2009 |
50,000 |
|
|
201 0 |
80,000 |
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