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Proble Gommon and preferred stock - issuances and dividends Homestead Oil Corp. was incorporated on 8 . 2 5 January 1 , 2 0 2
Proble Gommon and preferred stockissuances and dividends Homestead Oil Corp. was incorporated on January and issued the following stock for cash: LO shares of nopar common stock were authorized; shares were issued on January at $ per share. shares of $ par value, cumulative, preferred stock were authorized; shares were issued on January at $ per share. Net income for the years ended December and was $ and $ respectively. No dividends were declared or paid during However, on December the board of directors of Homestead declared dividends of $ payable on February to holders of record as of January Required: a Use the horizontal model or write the entry to show the effects of: The issuance of common stock and preferred stock on January The declaration of dividends on December The payment of dividends on February b Of the total amount of dividends declared during how much will be received by preferred shareholders?
Proble Gommon and preferred stockissuances and dividends Homestead Oil Corp. was incorporated on
January and issued the following stock for cash:
LO
shares of nopar common stock were authorized; shares were issued on January
at $ per share.
shares of $ par value, cumulative, preferred stock were authorized; shares
were issued on January at $ per share.
Net income for the years ended December and was $ and $
respectively.
No dividends were declared or paid during However, on December the board of
directors of Homestead declared dividends of $ payable on February to holders of
record as of January
Required:
a Use the horizontal model or write the entry to show the effects of:
The issuance of common stock and preferred stock on January
The declaration of dividends on December
The payment of dividends on February
b Of the total amount of dividends declared during how much will be received by preferred
shareholders?
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