Watson Corporation is authorized to issue 7,500 shares of $100 par value, 6%, cumulative preferred stock, and 130,000 shares of $10 par value common stock. December 5 Declared cash dividend on the preferred stock and also a $0.40 per share dividend on the common stock. December 20 Paid all the dividends declared on December 5. Required Prepare journal entries for the above transactions.
Watson Corporation is authorized to issue 7,500 shares of $100 par value, 6%, cumulative preferred stock, and 130,000 shares of $10 par value common stock. December 5 Declared cash dividend on the preferred stock and also a $0.40 per share dividend on the common stock. December 20 Paid all the dividends declared on December 5. Required Prepare journal entries for the above transactions.
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 9EA: St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and...
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Watson Corporation is authorized to issue 7,500 shares of $100 par value, 6%, cumulative
|
December 5 |
Declared cash dividend on the preferred stock and also a $0.40 per share dividend on the common stock.
|
|
December 20 |
Paid all the dividends declared on December 5. |
Required
Prepare
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