Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be paid on February 15 to stockholders of record on January 10, Year 2. Record the transaction. Note: Enter debits before credits. Sun Corporation recelved a charter that authorized the issuance of 90,000 shares of $7 par common stock and 21,000 shares of \$125 par, 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 January 5 gold 13,500 shares of the $7 par conmon stock for $9 per share. Januery 12 sold 2,100 shares of the 4 percent preferred atoek for 9135 per nharn. Aprit 5 Bold 18,000 aharen of the $7 par cominon atock for $11 per share. December 31 puring the year, earned $303,700 in eanh rovenue and paid $241,900 for cash operating expennea. Decenber it Deolared the canh dividend on the autatanding ibores of preferred litook for Year 1. The dividend Wi11 bed paid on Tobruary is to atoekholders of record on January 10, Year 2. Decimber 31 Cloaed the revenue, erpense, and dividesd aceounti to the retained earninge account. 33 meparate entrien) Year 2 rebresry is Pald the cash dividend Geolared on Decenber 31, Year 1. Mareh 3 fiold 3,150 sharea of the 5125 par preterred atoek for 1145 per nhare. lay 5 purchased 500 eharen of the coemon otoek an treadury stook at 914 per share. Decenber 31 puring tho year, earned 5246,300 in cash revenuen and paid $177, 000 tor canh operating expenaes. Eecemier i1 Declared the anmual dividend on the preferred atoek and a 50.50 per ahare dividend on the connon stock. December 1 Cloned rovenue, expense, and dividend accounte to tbe rotained earminge account. (3) abparate Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be paid on February 15 to stockholders of record on January 10, Year 2. Record the transaction. Note: Enter debits before credits. Sun Corporation recelved a charter that authorized the issuance of 90,000 shares of $7 par common stock and 21,000 shares of \$125 par, 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 January 5 gold 13,500 shares of the $7 par conmon stock for $9 per share. Januery 12 sold 2,100 shares of the 4 percent preferred atoek for 9135 per nharn. Aprit 5 Bold 18,000 aharen of the $7 par cominon atock for $11 per share. December 31 puring the year, earned $303,700 in eanh rovenue and paid $241,900 for cash operating expennea. Decenber it Deolared the canh dividend on the autatanding ibores of preferred litook for Year 1. The dividend Wi11 bed paid on Tobruary is to atoekholders of record on January 10, Year 2. Decimber 31 Cloaed the revenue, erpense, and dividesd aceounti to the retained earninge account. 33 meparate entrien) Year 2 rebresry is Pald the cash dividend Geolared on Decenber 31, Year 1. Mareh 3 fiold 3,150 sharea of the 5125 par preterred atoek for 1145 per nhare. lay 5 purchased 500 eharen of the coemon otoek an treadury stook at 914 per share. Decenber 31 puring tho year, earned 5246,300 in cash revenuen and paid $177, 000 tor canh operating expenaes. Eecemier i1 Declared the anmual dividend on the preferred atoek and a 50.50 per ahare dividend on the connon stock. December 1 Cloned rovenue, expense, and dividend accounte to tbe rotained earminge account. (3) abparate
