On October 14, the board of directors of Swifty Corp. voted to declare the annual preferred...
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On October 14, the board of directors of Swifty Corp. voted to declare the annual preferred share dividend to shareholders of record on November 1, payable on November 21. The company is authorized to issue 100,000, $3,75 noncumulative preferred shares: 22,000 have been issued. Prepare the required entries on each of these dates. (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.) Account Titles and Explanation Date 0 : (To record declaration of dividend.) (To record payment of dividend.) Debit 000 Credit 100 On October 14, the board of directors of Swifty Corp. voted to declare the annual preferred share dividend to shareholders of record on November 1, payable on November 21. The company is authorized to issue 100,000, $3,75 noncumulative preferred shares: 22,000 have been issued. Prepare the required entries on each of these dates. (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.) Account Titles and Explanation Date 0 : (To record declaration of dividend.) (To record payment of dividend.) Debit 000 Credit 100
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Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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