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Hi can someone please help me with this problem for accounting class? Thank you Frenchvanills Company earned net income of $100,000 during the year ended
Hi can someone please help me with this problem for accounting class? Thank you
Frenchvanills Company earned net income of $100,000 during the year ended December 31, 20 8. On December 15, Frenchvanilla declared the annual cash dividend on its 3% preferred stock ipar value, $130,000) and a $0.50 per share cash dividend on its common slock 180,000 ans). Frenchwanilla Linen paid the dividends on January 4, 2019. Read the requirements Requirement 1. Joumalize for Frenchvsnilla the entry declaring the cash dividends on December 2010. (Record debits first then credits. Select explanation on the last line of the journal entry tsole. Date Accounts and Explanation Debit Credit 2018 Dec. 15 Requirement 2. Joumalize for Frenchvshills the entry paying the cash dividends on January 4, 2019. (Record debite first then credits. Select the explanation on the last line of the Journal entry table. Date Accounts and Explanation Debit Credit 2019 Jan 4Step by Step Solution
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