Salary of the company president—$31,300. Salary of the vice president of manufacturing—$16,800. Salary of the chief financial of
ficer—$18,000. Salary of the vice president of marketing—$15,800. Salaries of middle managers (department heads, production supervisors) in manufacturing plant—$192,000. Wages of production workers—$940,000. Salaries of administrative secretaries—$110,000. Salaries of engineers and other personnel responsible for maintaining production equipment—$168,000. Commissions paid to sales staff—$256,000.
Prepare the journal entry.
Prepare the journal entry.
1 answer:
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Answer:
$5.50 dividend per share to common stock
Explanation:
In case a company has cumulative preference shares then the company has to pay preference dividend in arrears
Here, preference dividend was not paid in the year 2017
Preference dividend for 2017 = 500 $100
4%
= $2,000
Since the dividend is paid in between the year 2018, dividend is paid for the year 2017 and not for 2018 thus preference dividend is for a year, only for 2017
Therefore, dividend to common equity = $35,000 - $2,000 = $33,000
Dividend per share = $33,000/6,000 = $5.50 per share