On July 10, 201X, Becker Corporation issued 2,200 shares of common stock with a par value of $104 in exchage for equipment with a fair market value of $326,000. Journalize the appropriate entry.

Dirkson Corporation has 20,500 shares outstanding of $12 par value, 7% preferred stock, and 41,000 shares outstanding of $12 par-value common stock. In its first 5 years of operation, the company paid the following dividends: 2011, $0; 2012, $17,220; 2013, $51,660; 2014, $0; 2015, $88,980. Calculate the dividends paid to preferred and common stockholders under the following three independent situations:

Preferred stock is noncumulative and nonparticipating.

Preferred stock is cumulative and nonparticipating.

Preferred stock is cumulative and fully participating.

Calculate the dividends paid to preferred and common stockholders under the following three independent situations:

Preferred stock is noncumulative and nonparticipating.

Preferred stock is cumulative and nonparticipating.

Preferred stock is cumulative and fully participating.