2. Wrestling Corp hes the following shares, taken from the shareholders' equity section of its balance sheet dated December 31, 2018 Preferred shares, $2.80/share cumulative, 45,000 shares issued Common shares 80,000 shares issued 1,800,000 350,000 80,000 During its first four years of operations, Wrestling Corp. declared and paid total dividends as shown. Year Total Dividend 2019 $100,000 2020 250,000 2021 2022 a. Calculate the total dividends paid in each year to the preferred and common shareholders. There is a section on the template to complete this b. Record the journal entry for the 2022 declaration of dividends on December 31. c. Record the journal entry for the payment of the 2022 dividends on January 15, 2023
2. Wrestling Corp hes the following shares, taken from the shareholders' equity section of its balance sheet dated December 31, 2018 Preferred shares, $2.80/share cumulative, 45,000 shares issued Common shares 80,000 shares issued 1,800,000 350,000 80,000 During its first four years of operations, Wrestling Corp. declared and paid total dividends as shown. Year Total Dividend 2019 $100,000 2020 250,000 2021 2022 a. Calculate the total dividends paid in each year to the preferred and common shareholders. There is a section on the template to complete this b. Record the journal entry for the 2022 declaration of dividends on December 31. c. Record the journal entry for the payment of the 2022 dividends on January 15, 2023
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Aa 165.
Transcribed Image Text:2. Wrestling Corp hes the following shares, taken from the shareholders' equity section of its balance
sheet dated December 31, 2018
Preferred shares, $2.80/share cumulative,
45,000 shares issued
Common shares
80,000 shares issued
2021
During its first four years of operations, Wrestling Corp. declared and paid total dividends as shown.
Year
Total Dividend
2019
2020
2022
$100,000
250,000
1,800,000
350,000
80,000
a. Calculate the total dividends paid in each year to the preferred and common shareholders. There is
a section on the template to complete this.
b. Record the journal entry for the 2022 declaration of dividends on December 31.
c. Record the journal entry for the payment of the 2022 dividends on January 15, 2023
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