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help all please Current Attempt in Progress Oriole Corporation was organized on January 1, 2021. During its first year, the corporation issued 1,900 shares of
help all please
Current Attempt in Progress Oriole Corporation was organized on January 1, 2021. During its first year, the corporation issued 1,900 shares of $50 par value preferred stock and 107,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,100; 2022, $14,000; and 2023, $27,500. (b) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. 2021 2022 2023 Allocation to preferred stock $ $ Allocation to common stock LA $ LA LA $ LA $ Current Attempt in Progress On January 1, 2022, Sandhill Company issued $291,500, 5%, 5-year bonds at face value. Interest is payable annually on January 1. (a) (b) Prepare the journal entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2022 I Current Attempt in Progress Sunland Company issued $332,000 of 5%, 10-year bonds on January 1, 2022, at face value. Interest is payable annually on January 1, 2023. (b) Prepare the journal entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2022 I The adjusted trial balance for Blossom Farm Corporation at the end of the current year contained the following accounts. Interest Payable $5,000 Lease Liability 85,000 Bonds Payable, due 2027 175,000 Premium on Bonds Payable 16,000 Prepare the long-term liabilities section of the balance sheet. (Enter account name only and do not provide descriptive information.) Long-term Liabilities Bonds Payable Add : Premium on Bonds Payable Total Long-term Liabilities Blossom Farm Corporation Balance Sheet (Partial) 175000 16000 $ $Step by Step Solution
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