In: Accounting
Common Stock (130,000 shares, $10 par) Cash dividends were paid at the rate of $1 per share in fiscal year 2014 and $2 per share in fiscal year 2015. Dividends for 2015 and 2014?
Solution: | |||
Dividends | |||
2014 | $ 130,000 | ||
2015 | $ 260,000 | ||
Working Notes: | |||
Cash dividends rate | |||
2014 | $1 per share | ||
2015 | $2 per share | ||
No of shares outstanding | 130,000 shares | ||
Dividends | |||
2014 | $1 per share | $ 130,000 | |
[shares outstanding x Dividend per share] | [130,000 x $1] | ||
2015 | $2 per share | $ 260,000 | |
[shares outstanding x Dividend per share] | [130,000 x $2] | ||
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