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Ex. 304 The equity section of Foley Corporation at December 31, 2013, included the following: 4% Share capital-preference, $100 par value, cumulative, 10,000 shares authorized,

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Ex. 304 The equity section of Foley Corporation at December 31, 2013, included the following: 4% Share capital-preference, $100 par value, cumulative, 10,000 shares authorized, 8,000 shares issued and outstanding $ 800,000 Share capital-ordinary, $10 par value, 250,000 shares authorized, 200,000 shares issued and outstanding 2,000,000 Dividends were not declared on the preference shares in 2013 and are in arrears. On September 15, 2014, the board of directors of Foley Corporation declared dividends on the preference shares for 2013 and 2014, to shareholders of record on October 1, 2014, payable on October 15, 2014. On November 1, 2014, the board of directors declared a $.90 per share dividend on the ordinary shares, payable November 30, 2014, to shareholders of record on November 15, 2014. Instructions Prepare the journal entries that should be made by Foley Corporation on the dates indicated below: September 15, 2014 November 1, 2014 October 1, 2014 November 15, 2014 October 15, 2014 November 30, 2014

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