Dividend Declaration Accounting The company has the following two types of stock: 1. 2,000 shares of 10%
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Dividend Declaration Accounting The company has the following two types of stock:
1. 2,000 shares of 10% cumulative preferred stock with a $20 par value.
2. 5,000 shares of common stock with a $1 par value.
The company declared a $21,000 cash dividend. Make the necessary journal entry(ies)
to record this event.
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Related Book For
Accounting Concepts And Applications
ISBN: 9780324376159
10th Edition
Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice, Monte R. Swain
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