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Cash Dividends Kerry Company has 1,200 shares of $100 par value, 12% preferred stock and...

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Accounting

Cash Dividends

Kerry Company has 1,200 shares of $100 par value, 12% preferred stock and 11,700 shares of $10 par value common stock outstanding. The preferred stock is cumulative and nonparticipating. Dividends were paid in 2013. Since 2013, Kerry has declared and paid dividends as follows:

2014 $ 0
2015 16,100
2016 30,500
2017 36,000

Required:

1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2015 to 2017. If an amount is zero, enter "0".

Year Preferred Dividends Common Dividends
2015 $ $
2016 $ $
2017 $ $

2. If the preferred stock had been noncumulative, how much would have been allocated to the preferred and common stockholders each year?

Year Preferred Dividends Common Dividends
2015 $ $
2016 $ $
2017 $ $

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