Give journal entries, if required, for the following transactions pertaining to Grable a Grable declares the regular quarterly dividend of $1 50 per share on its $100 par value preferred stock There are 30,000 shares authorized and 15,000 shares issued, of which Grable has previously reacquired 2,0...

a Retained Earnings Dividends Declared 19500 Dividends PayablePreferred Stock 19500 Assets ...

Give journal entries, if required, for the following transactions pertaining to Grable: a. Grable declares the regular

Question:

Give journal entries, if required, for the following transactions pertaining to Grable:
a. Grable declares the regular quarterly of $1.50 per share on its $100 preferred stock. There are 30,000 shares authorized and 15,000 shares issued, of which Grable has previously reacquired 2,000 shares and holds them as treasury shares.
b. Grable pays the on the preferred stock (see part a).
c. Grable declares and issues a stock of $300,000 of no-par to its common shareholders.
d. The shares of no-par stock of Grable sell on the market for $200 a share. To bring the market value down to a more popular price and thereby broaden the of its stockholdings, Grable’s board of directors votes to issue four extra shares to shareholders for each share they already hold. Grable issues the shares.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...