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all requirements thank you Khloe Consulting, Inc., has 10,000 shares of $5.00, no-par preferred shares and 25,000 common shares outstanding for the years 20222024. Khloe
all requirements thank you
Khloe Consulting, Inc., has 10,000 shares of $5.00, no-par preferred shares and 25,000 common shares outstanding for the years 20222024. Khloe Consulting, Inc., declared and paid the following dividends during the three-year period: 2022,$16,000;2023,$126,000; and 2024,$245,000. Requirement 1(a). Compute the total dividends to preferred shareholders and to common shareholders for each of the three years if preferred is noncumulative. (Complete all input fields. For accounts with a $0 balance, make sure to enter "0" in the appropriate column.) Requirements 1. Compute the total dividends to preferred shareholders and to common shareholders for each of the three years if a. preferred is noncumulative. b. preferred is cumulative. 2. For requirement 1 (b), journalize the declaration of the 2024 dividends on December 28,2024 , and the payment of dividends on January 17, 2025. Use separate Dividends Payable accounts for preferred and common sharesStep by Step Solution
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