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Western Communications has the following stockholders' equity on December 31, 2024: E (Click on the icon to view the stockholders' equity) Read the requirements. cumulative, compute the amount of dividends to preferred stockholders and common stockholders for 2024 and 2025 if total dividends are $10,880 in 2024 and $52,000 in 2025. Requirement 1. Assuming the preferred stock Assume no changes in preferred stock and common stock in 2025. (Assume all preferred dividends have been paid prior to 2024. Complete all input boxes. Enter a "0" for zero amounts. For the current year preferred dividend, be sure to enter the calculated dividend on the "current year dividend" line and the paid out dividend on the "total dividend to preferred stockholders" line.) Western's 2024 dividend would be divided between preferred and common stockholders in this manner: Total Dividend-2024 Dividend to preferred stockholders: Data table Dividend in arrears Current year dividend Stockholders' Equity Total dividend to preferred stockholders Paid-In Capital: Preferred Stock-6%, $9 Par Value; 150,000 shares Dividend to common stockholders authorized, 22,000 shares issued and outstanding $ 198,000 Common Stock-$1 Par Value; 575,000 shares authorized, 390,000 shares issued and outstanding - X 390,000 Requirements 585,000 Paid-In Capital Excess of Par-Common Total Paid-In Capital 1,173,000 1. Assuming the preferred stock is cumulative, compute the amount of dividends 230,000 Retained Earnings

Western Communications has the following stockholders' equity on December 31, 2024: E (Click on the icon to view the stockholders' equity) Read the requirements. cumulative, compute the amount of dividends to preferred stockholders and common stockholders for 2024 and 2025 if total dividends are $10,880 in 2024 and $52,000 in 2025. Requirement 1. Assuming the preferred stock Assume no changes in preferred stock and common stock in 2025. (Assume all preferred dividends have been paid prior to 2024. Complete all input boxes. Enter a "0" for zero amounts. For the current year preferred dividend, be sure to enter the calculated dividend on the "current year dividend" line and the paid out dividend on the "total dividend to preferred stockholders" line.) Western's 2024 dividend would be divided between preferred and common stockholders in this manner: Total Dividend-2024 Dividend to preferred stockholders: Data table Dividend in arrears Current year dividend Stockholders' Equity Total dividend to preferred stockholders Paid-In Capital: Preferred Stock-6%, $9 Par Value; 150,000 shares Dividend to common stockholders authorized, 22,000 shares issued and outstanding $ 198,000 Common Stock-$1 Par Value; 575,000 shares authorized, 390,000 shares issued and outstanding - X 390,000 Requirements 585,000 Paid-In Capital Excess of Par-Common Total Paid-In Capital 1,173,000 1. Assuming the preferred stock is cumulative, compute the amount of dividends 230,000 Retained Earnings

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Western Communications has the following stockholders' equity on December 31, 2024: (Click on the icon to view the stockholders' equity) Read the requirements. ..... Requirement 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2024 and 2025 if total dividends are $10,880 in 2024 and $52,000 in 2025. Assume no changes in preferred stock and common stock in 2025. (Assume all preferred dividends have been paid prior to 2024. Complete all input boxes. Enter a "0" for zero amounts. For the current year preferred dividend, be sure to enter the calculated dividend on the "current year dividend" line and the paid out dividend on the "total dividend to preferred stockholders" line.) Western's 2024 dividend would be divided between preferred and common stockholders in this manner: Total Dividend-2024 Dividend to preferred stockholders: Data table Dividend in arrears Current year dividend Stockholders' Equity Total dividend to preferred stockholders Paid-In Capital: Preferred Stock-6%, $ 9 Par Value; 150,000 shares authorized, 22,000 shares issued and outstanding Dividend to common stockholders $ 198,000 Common Stock–$1 Par Value; 575,000 shares authorized, 390,000 shares issued and outstanding 390,000 Requirements 585,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 1,173,000 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2024 and 2025 if total dividends are $10,880 in 2024 and $52,000 in 2025. Assume no changes in preferred stock and common stock in 2025. 230,000 Retained Earnings $ 1,403,000 Total Stockholders' Equity 2. Record the journal entries for 2024, assuming that Western Communications declared the dividend on December 1 for stockholders of record on December 10. Western Communications paid the dividend on December 20. Print Done Print Done
Transcribed Image Text:Western Communications has the following stockholders' equity on December 31, 2024: (Click on the icon to view the stockholders' equity) Read the requirements. ..... Requirement 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2024 and 2025 if total dividends are $10,880 in 2024 and $52,000 in 2025. Assume no changes in preferred stock and common stock in 2025. (Assume all preferred dividends have been paid prior to 2024. Complete all input boxes. Enter a "0" for zero amounts. For the current year preferred dividend, be sure to enter the calculated dividend on the "current year dividend" line and the paid out dividend on the "total dividend to preferred stockholders" line.) Western's 2024 dividend would be divided between preferred and common stockholders in this manner: Total Dividend-2024 Dividend to preferred stockholders: Data table Dividend in arrears Current year dividend Stockholders' Equity Total dividend to preferred stockholders Paid-In Capital: Preferred Stock-6%, $ 9 Par Value; 150,000 shares authorized, 22,000 shares issued and outstanding Dividend to common stockholders $ 198,000 Common Stock–$1 Par Value; 575,000 shares authorized, 390,000 shares issued and outstanding 390,000 Requirements 585,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 1,173,000 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for 2024 and 2025 if total dividends are $10,880 in 2024 and $52,000 in 2025. Assume no changes in preferred stock and common stock in 2025. 230,000 Retained Earnings $ 1,403,000 Total Stockholders' Equity 2. Record the journal entries for 2024, assuming that Western Communications declared the dividend on December 1 for stockholders of record on December 10. Western Communications paid the dividend on December 20. Print Done Print Done
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