A B 28 29 Homework 14-2 30 Sunset has 10,000 outstanding shares of 4%, $10 par preferred stock and 100,000 shares of $1.50 31 par common stock outstanding. During a three year period, Sunset declared and paid cash 132 dividend as follows: 2023 of $1,000; 2024 of $5,000 and 2025 of $25,000. 133 a. Compute the total dividends to preferred and common for each if the three years if 134 the preferred stock is: 135 1. Cumulative 136 Preferred Dividend: 137 138 139 140 141 Preferred: Common 142 143 2. Noncumulative 144 Preferred Dividend: 145 146 147 + 148 149 Total Dividends Preferred: Common Total Dividends 2023 2023 2024 2024 2025 2025 150 151 3. Prepare the journal entry to record the 2025 dividends declaration, and payment from Number 2 above. DR 152 CR 153 154 155 156 157 158 159 160 161 162
A B 28 29 Homework 14-2 30 Sunset has 10,000 outstanding shares of 4%, $10 par preferred stock and 100,000 shares of $1.50 31 par common stock outstanding. During a three year period, Sunset declared and paid cash 132 dividend as follows: 2023 of $1,000; 2024 of $5,000 and 2025 of $25,000. 133 a. Compute the total dividends to preferred and common for each if the three years if 134 the preferred stock is: 135 1. Cumulative 136 Preferred Dividend: 137 138 139 140 141 Preferred: Common 142 143 2. Noncumulative 144 Preferred Dividend: 145 146 147 + 148 149 Total Dividends Preferred: Common Total Dividends 2023 2023 2024 2024 2025 2025 150 151 3. Prepare the journal entry to record the 2025 dividends declaration, and payment from Number 2 above. DR 152 CR 153 154 155 156 157 158 159 160 161 162
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Aa.41.
Transcribed Image Text:A
B
28
29 Homework 14-2
30 Sunset has 10,000 outstanding shares of 4%, $10 par preferred stock and 100,000 shares of $1.50
31 par common stock outstanding. During a three year period, Sunset declared and paid cash
132 dividend as follows: 2023 of $1,000; 2024 of $5,000 and 2025 of $25,000.
133 a. Compute the total dividends to preferred and common for each if the three years if
134 the preferred stock is:
135 1. Cumulative
136 Preferred Dividend:
137
138
139
140
141
Preferred:
Common
142
143 2. Noncumulative
144 Preferred Dividend:
145
146
147
148
149
Preferred:
Common
Total Dividends
Total Dividends
2023
2023
2024
2024
2025
2025
150
151 3. Prepare the journal entry to record the 2025 dividends declaration, and payment from Number 2 above.
DR
152
CR
153
154
155
156
157
158
159
160
161
162
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