Question
Hodge Corporation issued112,000shares of $20par value, cumulative,8% preferred stock on January 1, 2016, for $2,700,000. In December 2018, Hodge declared its first dividend of $840,000.
Hodge Corporation issued112,000shares of $20par value, cumulative,8% preferred stock on January 1, 2016, for $2,700,000. In December 2018, Hodge declared its first dividend of $840,000.
Prepare Hodge's journal entry to record the issuance of the preferred stock.
Account titles and Explanation Debit Credit
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Financial and managerial accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
1st edition
111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114
