Ridge Crest Inc., a developer of construction equipment, has shares outstanding as follows: 25,000 $2 cumulative preferred
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Ridge Crest Inc., a developer of construction equipment, has shares outstanding as follows: 25,000 $2 cumulative preferred shares and 72,000 common shares. During its first four years of operations, the following amounts were distributed as dividends: first year, $40,000; second year, $50,000; third year, $78,000; fourth year, $122,000. Determine the distribution of dividends on each class of share for each of the four years, and calculate dividends paid per share for common and preferred shares.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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