nework: Week $14$ Chapter $13$ Homework

Question

Part $3$ of $5$

Stockholders' Equity

Donovan, Inc. has the following stockholders' equity on December $31,2025$:

View the stockholders' equity,

Read the requirements.

Dividend to preferred stockholders:

Dividend in arrears

Current year dividend

Total dividend to preferred stockholders

Dividend to common stockholders

$q,$

$$,24,300$

Requirement $2.$ Record the journal entries for $2025,$ assuming that Donovan, Inc declared the dividend on December $1$ for stockholders of credits. Select the explanation on the last line of the journal entry table If no entry is required, select $"$No entry required" on the first line of th

Dec. $1,2025.$ Declared dividend.

Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for $2025$ and $2026$ if total dividends are $$7,700$ in $2025$ and $$34,000$ in $2026$ Assume no changes in preferred stock and common slock in $2026$

Record the journal entries for $2025,$ assuming that Donovan, inc declared the dividend on December $1$ for stockholders of record on December $10$ Donovan, Inc paid the dividend on December $20$