4)BBY Corporation had both common stock and preferred stock outstanding Information about each class of stock is as follows: Preferred $100 Par Value 20,000 Outstanding 7% Cumulative Common 10 Par Value 600,000 Outstanding The company paid $ 70,000, $ 400,000 and $ 550,000 in dividends in the years 1999, 2000 and 2001. Determine the total dividends paid to the common and preferred shareholders each year. Repeat the computations with the assumptions that the preferred stock was non- cumulative and prepare the journal entry for the dividends declared and paid in 2001. EXPLAIN : DIVIDEND IN AREARS - Is IT A LIABILITY WHAT IS IT? WHERE IS IT SHOWN ON THE FINANCIAL STATEMENT? ? ? S) (a) XYZ Company purchased two Bulgas follows: Bus Acquired Cost Est. Sal Value Est. Useful Life Method 1 4/1/02 76,000 6,000 straight line 2 4/1/03 80,000 10,000 10 yrs 100,000 units of Production a) Record the depreciation entry for cach machine for the years 2002, 2003, and 2004 Assume that the company dre Burtra, a follow: rook - 15,000 miles 085 10,000 miles