166.The following transactions took place for the XYZ Corporation:
November 12 - Declared a total cash dividend of $45,000 for stockholders of record November 20 payable onDecember 1. Record the journal entries required by these events.
Briefly describe the significance of November 20.
167.Sabas Company has 20,000 shares of $100 par, 1% noncumulative preferred stock and 100,000 shares of $50 parcommon stock. The following amounts were distributed as dividends:
Year 1:
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$10,000
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Year 2:
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15,000
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Year 3:
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90,000
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Determine the dividends per share for preferred and common stock for each year.
168.On January 1, Year 1, a company had the following transactions:
-Issued 10,000 shares of $2.00 par common stock for $12.00 per share.
-Issued 3,000 shares of $50 par, 6% cumulative preferred stock for $70 per share.
-Purchased 1,000 shares of previously issued common stock for $15.00 per share.
The company had the following dividend information available:
Year 1 - No dividend paid
Year 2 - Paid a $2,000 total dividendYear 3 - Paid a $20,000 total dividendYear 4 - Paid a $25,000 total dividend
Using the following format, fill in the correct values for each year:
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Year 1
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Year 2
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Year 3
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Year 4
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Common stock dividend
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?
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?
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?
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?
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Preferred stock dividend
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?
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?
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?
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?
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Dividends in arrears
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?
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?
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?
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?
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