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On January 1 , 2 0 2 2 , Koro Company issued 1 , 0 0 0 shares of 6 % , $ 1 0
On January Koro Company issued shares of $ par value preferred stock for $ The board of directors declared dividends on December Koro paid the dividends on January What journal entries are necessary to record these transactions?
Prepare all the necessary journal entries to record the transactions. Record debits first, then credits. Exclude explanations from any journal entries.
First, prepare the journal entry to record the issuance of the preferred stock.
tableAccount
Now, prepare the journal entry to record the declaration of the dividends. Do not record the entry for payment of the dividends. We will do that in next step.
tableAccountDecember
Finally, prepare the journal entry to record the payment of the dividends.
Account
January
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