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im really stuck can someone help me Use the following information to answer questions 1-5. The Stockholder's Equity accounts of a corporation on January 1,
im really stuck can someone help me
Use the following information to answer questions 1-5. The Stockholder's Equity accounts of a corporation on January 1, 2019, were as follows: $ Preferred Stock (10%, $130 par, cumulative, 2,000 shares authorized) Common Stock ($5 par, 120,000 shares authorized) APIC - Preferred APIC - Common Retained Earnings Treasury Stock-Common ($15 cost) 195,000 400,000 20,000 600,000 800,000 18,000 During 2019, the corporation had the following transactions and events relating to its stockholders equity. Please update the shareholder's equity accounts based on the information below and answer the following five questions. Jan. 6 Mar. 21 Dec. 12 Dec. 31 Issued 10,000 shares of common stock. On this date, the stock was trading for $13 per share. Sold 1,000 shares of Treasury Stock - Common for $18 per share. Purchased 3,000 shares of common stock for the treasury at a cost of $45,000. Determined that net income for the year was $218,000. Dividends were declared and paid during December. These dividends included dividends to preferred shareholders, plus a $0.10 per share dividend to common stockholders of record as of December 20. There were no dividends in arrears. 3. What is the total amount of dividends paid to preferred stockholders in December? A. $19,500 B. $26,000 C. $1,500 D. $2,000 E. $195,000
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