Crane Corporation was organized on January 1, 2019. During its first year, the corporation issued2,050shares of $50par value preferred stock and100,000shares of $10par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,075; 2020, $13,900; and 2021, $28,000.

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is7% and noncumulative.

2019

2020

2021

Allocation to preferred stock$

$

$

Allocation to common stock$

$

$

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is8% and cumulative.

2019

2020

2021

Allocation to preferred stock$

$

$

Allocation to common stock$

$

$

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Journalize the declaration of the cash dividend at December 31, 2021, under part

Date

Account Titles and Explanation

Debit

Credit

Dec. 31