Company issue preferred stock 100000 share for cash $23 per share. The par value for preferred stock
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Question:
Company issue preferred stock 100000 share for cash $23 per share. The par value for preferred stock is $20,6%.
1) Journalize the issue of preferred stock?
2) Show the allocation of dividends to each class of stock:
A) Dividend cash of 500000$, preferred is non- cumulative.
B) Dividend cash of 500000$ preferred is cumulative and did not received dividend for the past 2 years.
Related Book For
Horngrens Financial and Managerial Accounting The Financial Chapters
ISBN: 978-0134486857
6th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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