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Can you show me part C? Exercise 11-5 (Part Level Submission) Concord Corporation issued 113,000 shares of $19 par value, cumulative, 7% preferred stock on
Can you show me part C?
Exercise 11-5 (Part Level Submission) Concord Corporation issued 113,000 shares of $19 par value, cumulative, 7% preferred stock on January 1, 2018, for $2,630,000. In December 2020, Concord declared its first dividend of $720,000. (a) Your answer is correct. Prepare Concord's journal entry to record the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Cash non Preferred Stock 2147000 | Paid-in Capital in Excess of Par-Preferred Stock 483000 Click if you would like to show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 1 of 3 used (b) Your answer is correct. If the preferred stock is not cumulative, how much of the $720,000 would be paid to commor Common Stock Dividends 560710 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT Activate Windows Go to Settings to activate Windows. (c) If the preferred stock is cumulative, how much of the $720,000 would be paid to common stockholders? Common Stock Dividends Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXTStep by Step Solution
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