1.
Dividends Per Share
Oceanic Company has 20,000 shares of cumulative preferred 3%stock, $50 par and 50,000 shares of $10 par common stock. Thefollowing amounts were distributed as dividends:
| Year 1 | $45,000 |
| Year 2 | 12,000 |
| Year 3 | 90,000 |
Determine the dividends per share for preferred and common stockfor each year. Round all answers to two decimal places. If ananswer is zero, enter '0'.
| Year 1 | Year 2 | Year 3 |
| Preferred stock (Dividends per share) | $ | $ | $ |
| Common stock (Dividends per share) | $ | $ | $ |
2.
Entries for Issuing Stock
On January 22, Muir Corporation issued for cash 15,000 shares ofno-par common stock at $25. On February 14, Muir issued at par5,000 shares of 6%, $75 par preferred stock for cash. On August 30,Muir Corporation issued for cash 12,000 shares of preferred 6%stock, $75 par at $84.
Journalize the entries to record the January 22, February 14,and August 30 transactions.
For a compound transaction, if an amount box does not require anentry, leave it blank.
3. Entries forIssuing Par Stock
On October 31, Legacy Rocks Inc., a marble contractor, issued forcash 120,000 shares of $4 par common stock at $7, andon November 19, it issued for cash 20,000 shares of $10 parpreferred stock at $34.
a. Journalize the entries for October 31 andNovember 19.
For a compound transaction, if an amount box does not require anentry, leave it blank.
b. What is the total amount invested (totalpaid-in capital) by allstockholders as of November19?
$
