Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. identifying and analyzing financial statement effe

Identifying and Analyzing Financial Statement Effects of Cash Dividends On its Form 10-K for the...

70.2K

Verified Solution

Question

Accounting

Identifying and Analyzing Financial Statement Effects of Cash Dividends On its Form 10-K for the year ended December 31, 2015, Bank of America Corp. reported the following relating to dividends on its Series 5 Floating Rate Non-Cumulative Preferred stock.

Dividend Payment Date Dividend Per Share
22-Feb-16 0.25556
23-Nov-15 0.25556
21-Aug-15 0.25556
21-May-15 0.24722
23-Feb-15 0.25556

There were 14,058 million shares of this preferred stock outstanding throughout the year. Determine the total dividends that Bank of America paid during fiscal 2015. Round answer to the nearest million.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

General Management
1.2K views

Describe the structure and characteristic of supply chains and explain any challenges. Based on these challenges,...

Accounting
1.2K views

You are recently hired as a staff accountant for a small finished goods manufacturing company. Part...

Physics
1.2K views

A ray of light PQ is incident at angle i on a prism face See...

Physics
1.2K views

The end A of a ladder AP of length 5 m kept inclined to a...

Geometry
1.2K views

The radius of a circle is 3 inches What is the area of a sector...

Calculus
1.2K views

16 A stone is dropped into a lake creating a circular ripple that travels outward...

Accounting
1.2K views

frit-ost methed is useo bo cevet invertetint men \& 15150 1. c. 14.134 b...

Accounting
1.2K views

EyeGuard Equipment Inc. (EEI) manufactures protective eyewear for use in commercial and home applications. The...

Accounting
1.2K views

QUESTION 1 Dividend payments are categorized as: cash flow from operating activities. cash flow from...

Accounting
1.2K views

please help explain Let X be a Poisson random variable with...

Accounting
1.2K views

Maria Am Corporation uses the weighted-average method in its process costing system. The Baking Department...

Accounting
1.2K views

ining Gross Profit During the current year, merchandise is sold for $649,000. The cost of...