Question
Please help. Jan. 16: Declared a cash dividend on the 6%, $97 par noncumulative preferred stock (1,150 shares outstanding). Declared a $0.40 per share dividend
Please help.
Jan. 16: Declared a cash dividend on the 6%, $97 par noncumulative preferred stock (1,150 shares outstanding). Declared a $0.40 per share dividend on the 85,000 shares of $8 par value common stock outstanding.
The date of record is January 31, and the payment date is February 15.
| Date | Accounts and Explanation | Debit | Credit | ||
| Jan. 16 | |||||
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
5th Canadian edition
1259269868, 978-1259269868
