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Common Stock (130,000 shares, $10 par) Cash dividends were paid at the rate of $1 per...

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Accounting

Common Stock (130,000 shares, $10 par) Cash dividends were paidat the rate of $1 per share in fiscal year 2014 and $2 per share infiscal year 2015. Dividends for 2015 and 2014?

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Solution:
Dividends
2014 $                   130,000
2015 $                   260,000
Working Notes:
Cash dividends rate
2014 $1 per share
2015 $2 per share
No of shares outstanding 130,000 shares
Dividends
2014 $1 per share $                   130,000
[shares outstanding x Dividend per share] [130,000 x $1]
2015 $2 per share $                   260,000
[shares outstanding x Dividend per share] [130,000 x $2]
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