P10-3B. Analyzing shareholders equity (Learning Objectives 2, 3, & 4) 2025 min.

Cascade Inn Inc. included the following shareholders equity on its year-end statement of financial position at December 31, 2024:

Requirements

Identify the different issues of shares Cascade Inn Inc. has outstanding.

Give the two entries to record issuance of Cascade Inn Inc.s shares. Assume all the shares was issued for cash. Explanations are not required.

Assume that preferred dividends are in arrears for 2022 and 2023. Record the declaration of a $40,000 cash dividend on December 30, 2024. Assume no change in the preferred shares account in 2024. Use separate Dividends Payable accounts for preferred and common shares. An explanation is not required.

P10-3B. Analyzing shareholders' equity (Learning Objectives 2, 3, \& 4) 20-25 min. Cascade Inn Inc. included the following shareholders' equity on its year-end statement of financial position at December 31,2024 : Requirements 1. Identify the different issues of shares Cascade Inn Inc. has outstanding. 2. Give the two entries to record issuance of Cascade Inn Inc.'s shares. Assume all the shares was issued for cash. Explanations are not required. 3. Assume that preferred dividends are in arrears for 2022 and 2023. Record the declaration of a $40,000 cash dividend on December 30 , 2024. Assume no change in the preferred shares account in 2024. Use separate Dividends Payable accounts for preferred and common shares. An explanation is not required. P10-4B. Accounting for cash dividends (Learning Objective 4) 1520min