Dividends on Preferred and Common StockPecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over asix-year period: 20Y1, $36,000; 20Y2, $72,000; 20Y3, $162,000; 20Y4, $207,000; 20Y5, $261,000; and 20Y6, $315,000. During the entire periodended December 31 of each year, the outstanding stock of the company was composed of 30,000 shares of cumulative, preferred 3% stock, $100 par,and 100,000 shares of common stock, $10 par.Required:1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends inarrears at the beginning of 20Y1. Summarize the data in tabular form. If reguired, round your per share answers to two decimal places. If the amount iszero, please enter "0".Preferred DividendsCommon DividendsTotalDividendsYearTotalPer ShareTotalPer Share20Y1$36,0003,600 X1.2 V0.241.2 X20Y272,00072,0002.42.4 X20Y3162,000162,0005.45.4X20Y4207,0009,000 X3 x13117,00020Y5261,0009,000 X3 x3 x171,00020Y6315,0009,000225,0006的%24%24%24 -ంశాస +3. Assuming a market price per share of $143 for the preferred stock and $16 for the common stock, determine the average annual percentage returnon initial shareholders' investment, based on the average annual dividend per share (a) for preferred stock and (b) for common stock.Round your answers to two decimal places.Preferred stock2.098 X %Common stock5.34FeedbackCheck My Work1. Is the preferred stock cumulative or non-cumulative? How will the preferred stock being cumulative or non-cumulative affect the distribution of dividends?Determine what amount of current dividends the preferred stock should receive per year. Recall the definition of dividends "in arrears".How much in dividends would each share of preferred stock receive each year? How much in dividends would each share of common stock receive each year?Pem embor orO

The average annual percentage return is calculated by dividing the average annual dividend by the…

Answered: Pecan Theatre Inc. owns and operates…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 22EB: Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000...

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Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the numerator of the EPS calculation for Errol?
Bastion Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the EPS for the year for Bastion?
Dividends on preferred and common stockPecan Theatre, Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $80,000; Year 2, $90,000; Year 3, $150,000; Year 4, $150,000; Year 5, $160,000; and Year 6, $180,000. During the entire period ending December 31 of each year, the outstanding stock of the company was composed of 250,000 shares of cumulative, preferred 2% stock, $20 par, and 500,000 shares of common stock, $15 par.Instructions1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form, using the following column headings:Total Preferred Dividends Common DividendsYear Dividends Total Per Share Total Per ShareYear 1 $80,000Year 2 90,000Year 3 150,000Year 4 150,000Year 5 160,000Year 6 180,0002. Determine the average annual…
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $80,000; Year 2, $90,000; Year 3, $150,000; Year 4, $150,000; Year 5, $160,000; and Year 6, $180,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 250,000 shares of cumulative, preferred 2% stock, $20 par, and 500,000 shares of common stock, $15 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year TotalDividends Total Per Share Total Per Share Year 1 $ 80,000 $fill in the blank 1 $fill in the blank…
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $24,000; Year 2, $48,000; Year 3, $114,000; Year 4, $138,000; Year 5, $168,000; and Year 6, $216,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 20,000 shares of cumulative preferred 3% stock, $100 par, and 100,000 shares of common stock, $15 par. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places. Average annual dividend for preferred $ per share Average annual dividend for common $ per share Assuming a market price per share of $208 for the preferred stock and $19 for the common stock, determine the average annual percentage return on initial shareholders' investment, based on the average annual dividend per share for preferred stock and…
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $24,000; Year 2, $48,000; Year 3, $114,000; Year 4, $138,000; Year 5, $168,000; and Year 6, $216,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 20,000 shares of cumulative preferred 3% stock, $100 par, and 100,000 shares of common stock, $15 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year TotalDividends Total Per Share Total Per Share Year 1 $ 24,000 $fill in the blank 1 $fill in the blank 2…
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $16,000; Year 2, $48,000; Year 3, $72,000; Year 4, $88,000; Year 5, $112,000; and Year 6, $140,000. During the entire period ending December 31 of each year, the outstanding stock of the company was composed of 20,000 shares of cumulative, 2% preferred stock, $100 par, and 100,000 shares of common stock, $25 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year TotalDividends Total Per Share Total Per Share Year 1 $ 16,000 $ $ $ $ Year 2 48,000…
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $24,000; 20Y2, $48,000; 20Y3, $108,000; 20Y4, $138,000; 20Y5, $168,000; and 20Y6, $216,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 20,000 shares of cumulative, preferred 3% stock, $100 par, and 100,000 shares of common stock, $20 par.
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $36,000; 20Y2, $72,000; 20Y3, $162,000; 20Y4, $207,000; 20Y5, $252,000; and 20Y6, $315,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 30,000 shares of cumulative, preferred 3% stock, $100 par, and 100,000 shares of common stock, $10 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 20Y1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year TotalDividends Total Per Share Total Per Share 20Y1 $ 36,000 $fill in the blank 1 $fill in the blank 2 $fill in the blank…
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $32,000; Year 2, $96,000; Year 3, $152,000; Year 4, $176,000; Year 5, $224,000; and Year 6, $280,000. During the entire period ending December 31 of each year, the outstanding stock of the company was composed of 40,000 shares of cumulative, 2% preferred stock, $100 par, and 100,000 shares of common stock, $25 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0".
Partridge Theatre Inc. owns and operates movie theaters throughout Texas and Oklahoma. Partridge Theatre Inc. has declared the following annual dividends over a six-year period: 2009, $9,000; 2010, $20,000; 2011, $40,000; 2012, $60,000; 2013, $75,000; and 2014, $114,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 20,000 shares of cumulative, preferred 1% stock, $75 par, and 100,000 shares of common stock, $5 par. Required: 1. Calculate the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears on January 1, 2009. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Use number format 1,000.00 for your answers.
Dividends on preferred and common stockPecan Theatre Inc. owns and operates movie theaters throughoutFlorida and Georgia. Pecan Theatre has declared the following annualdividends over a six-year period: Year 1, $80,000; Year 2, $90,000; Year 3,$150,000; Year 4, $150,000; Year 5, $160,000; and Year 6, $180,000. During the entire period ended December 31 of each year, the outstanding stockof the company was composed of 250,000 shares of cumulative,preferred 2% stock, $20 par, and 500,000 shares of common stock, $15par.Instructions 1. Determine the total dividends and the per-Shan: dividendsdeclared one each class of stock for each of the six years. Therewere no dividends in arrears at the beginning of Year 1. Summarizethe data in tabular form, using the following column heading: (attached) 2. Determine the average annual dividend per share for each classof stock for the six- year period. 3. Assuming a market price per share of $25.00 for the preferredstock and $17.50 for the common…

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