Accounting help?

Question:

I need help with this problem. company has stock of 100,000 shares of 2%cumulative, non participating preferred stock of 20 par, and 50,000 shares of 100 par common. 1st year non,2nd 45,000,3rd 110,000, 4th 130,000, 5th 180,000. how do i calculate the dividends per share on each class of stock for each year?If anyone is good at accounting plz leave ur email i may have a few more ???

Answer:
THE TOTAL AMOUNT OF PREFERENCE SHARE = 100000*20
PREFERENCE SHARES = $2000000
MINIMUM DIVIDEND TO BE PAID TO PREFERENCE = 2% OF 2000000= 40000
1st year:0
PREFERENCE SHARE=0
ORDINARY SHARES=0
2ND year:45000
PREFERENCE SHARE=40000/100000=0.40
ORDINARY SHARES=5000/50000=0.10
3RD year:110000
PREFERENCE SHARE=40000/100000=0.40
ORDINARY SHARES=70000/50000=1.40
4TH year:130000
PREFERENCE SHARE=40000/100000=0.40
ORDINARY SHARES=90000/50000=1.80
5TH year:180000
PREFERENCE SHARE=40000/100000=0.40
ORDINARY SHARES=140000/50000=2.80

Do preferred first (and then common if dividends were paid in excess of the preferred dividend). The preferred dividend payable is .02 x 20 x 100,000 per year even if the dividend isn't that large. The excess carries over and is paid first in the next year before the new preferred (and then any common dividend).

Accounting help?

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