Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 3

Preferred stock-calculate dividend amounts Calculate the cash dividends required to be paid for each of the following preferred stock issues:
Required:
a. The semiannual dividend on 9% cumulative preferred, $50 par value, 30,000 shares authorized, issued, and outstanding.
b. The annual dividend on $6.20 cumulative preferred, 500,000 shares authorized, 160,000 shares issued, 127,400 shares outstanding. Last year's dividend has not been paid.
c. The quarterly dividend on 6.5% cumulative preferred, $100 stated value, $103 liquidating value, 200,000 shares authorized, 168,000 shares issued and outstanding. No dividends are in arrears.