PRINTER VERSION RACK NI Exercise 14-2 (Part Level Submission) Knudsen Corporation was organized on January 1, 2016. During its first year, the corporation issued 2,050 shares of $50 par value preferred stock and 107,000 shares of $10 par value common stock. At December 31, the company dedared the following cash dividends: 2016, $5,675; 2017, $13,500; and 2018, $28,000. (a) Your answer is correct. Show the allocation of dividends to each dass of stock, assuming the preferred stock dividend is and no cumulative, 2016 2017 2018 Allocation to preferred stock 5,675 7,175 7.175 Allocation to common stock 6,325 20,825 Click if you would like to Show Work for this question Open Show Work BERCISE Attempts: 1 of 5 u (b) Show the allocation of dividends to each dass of stock, assuming the preferred stock dividend is 8% and cumulative. 2016 2017 2018 Allocation to preferred stock $ Allocation to common stock $ $ Click if you would like to Show Work for this question: Open Show Work Exercise 14-1 PRINTER VERSION 4 RACK your answer is partially correct. Try again. On January 1, Guillen Corporation had 92,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred Apr. 1 Issued 23,500 additional shares of common stock for $17 per share. June 15 Dedared a cash dividend of $2 per share to stockholders of record on June 30. July 10 Paid the $2 cash dividend. Dec. 1 Issued 1,000 additional shares of common stock for $18 per share. 15 Declared a cash dividend on outstanding shares of $4.80 per share to stockholders of record on December 31. Prepare the entries to record these transactions. (If no entry is required, select "No entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr 1 v Cash 399500 Common Stock 94000 Pald in Capital in Excess of Par Common Stock 305500 June 15 Cash Dividends 231000 Dividends Payable 231000 PRINT Exercise 14-11 Your answer is partially correct. Try again. The following accounts appear in the ledger of Horner Inc. after the books are closed at December 31, Common Stock, no par, $1 stated value, 376,000 shares authorized; 284,000 shares issued $ 284,000 Common Stock Dividends Distributable 25,500 Paid-in Capital in Excess of Stated Value-Common Stock 130,000 Preferred Stock, $5 par value, 8%, 38,500 shares authorized; 29,500 shares issued 147,500 Retained Earnings 750,000 Treasury Stock (11,000 common shares) 82,500 Paid in Capital in excess of Par--Preferred Stock 350,000 Prepare the stockholders' equity section at December 31, assuming retained earnings is restricted for plant expansion in the amount of $110,000. (Enter accou do not provide descriptive information.) HORNER INC. Balance Sheet (Partial). December 31, 20xx Stockholders' Equit paid in Capital Capital Stock Preferred Stock