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CC 1 1 - 1 ( Algo ) Accounting for Equity Financing [ LO 1 1 - 1 , LO 1 1 - 2 ,
CCAlgo Accounting for Equity Financing LO LO LO LO LO Skip to question The following information applies to the questions displayed below. Nicole has been financing Nicoles Getaway Spa NGS using equity financing. Currently NGS has authorized nopar preferred shares and $ par common shares. Outstanding shares include preferred shares and common shares. Recently the following transactions have taken place. NGS issues preferred shares for $ a share. NGS repurchases common shares for $ a share. On November the board of directors declares a $ cash dividend on each outstanding preferred share. The dividend is paid December CCAlgo Part Required: Prepare the journal entries needed for each of the transactions. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Record the declaration of a $ cash dividend on the shares of preferred stock outstanding.
CCAlgo Accounting for Equity Financing LO LO LO LO LO
Skip to question
The following information applies to the questions displayed below.
Nicole has been financing Nicoles Getaway Spa NGS using equity financing. Currently NGS has authorized nopar preferred shares and $ par common shares. Outstanding shares include preferred shares and common shares.
Recently the following transactions have taken place.
NGS issues
preferred shares for $ a share.
NGS repurchases common shares for $ a share.
On November the board of directors declares a $ cash dividend on each outstanding preferred share.
The dividend is paid December
CCAlgo Part
Required:
Prepare the journal entries needed for each of the transactions. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Record the declaration of a $ cash dividend on the shares of preferred stock outstanding.
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