*Exercise 11-10 Coronado Industries was organized on January 1, 2021. During its first year, the corporation...

  

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*Exercise 11-10 Coronado Industries was organized on January 1, 2021. During its first year, the corporation issued 1,600 shares of $50 par value preferred stock and 110,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,400; 2022, $12,800; and 2023, $27,700. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative. (Do not leave any answer field blank. Enter 0 for amounts.) 2021 2023 Total dividend Allocation to preferred stock Total dividend $ Allocation to preferred stock Remainder to common stock $ $ Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. (Do not leave any answer field blank. Enter 0 for amounts.) 2022 2021 $ 2022 $ 2023 Remainder to common stock $ $ $ Journalize the declaration of the cash dividend at December 31, 2023, under part (b). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit *Exercise 11-10 Coronado Industries was organized on January 1, 2021. During its first year, the corporation issued 1,600 shares of $50 par value preferred stock and 110,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,400; 2022, $12,800; and 2023, $27,700. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative. (Do not leave any answer field blank. Enter 0 for amounts.) 2021 2023 Total dividend Allocation to preferred stock Total dividend $ Allocation to preferred stock Remainder to common stock $ $ Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. (Do not leave any answer field blank. Enter 0 for amounts.) 2022 2021 $ 2022 $ 2023 Remainder to common stock $ $ $ Journalize the declaration of the cash dividend at December 31, 2023, under part (b). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit