question 12

a

b

c

this is the drop down for question D

Carmen Company is a corporation that has issued both preferred and common stock. As of January 1, it had 50,000 shares of 2.75 %, $100 par, preferred stock cutstanding and 250.000 shares of $10 par common stock outstanding a. On January 31, the board of directors issues a requirement to purchase 5,000 shares of its common stock at market price. The shares are purchased at a market price of $22 per share. Journalize the purchase utiizing the cost concept Jan 31 b. On March 15, Carmen deciares a dividend on preferred stock of $2.75 per share. The date of record is March 25 and the date of payment is March 31. no entry is required, select "No tntry Required and leave the amount bexes biank Journalize these events. Mar 15 Mar. 25 Mar 3 t On December 1, Carmen decares a cash dividend on common steck of s0.12 ser share The dele of recone Decemer 15 and the dee of peyment is December 21 Jouenale these events It no entry is requred seect No Entry Reqared and ieave the amont boses ns Dec 5 De 15 Dec 21 d. On December 27, the board orders that 2,500 shares of the treasury stock purchased in (a) be sold. The sale price is $25 per share. Journalize this event. If an amount box does not require an entry, leave it blank. Dec. 27 Calculator Carmen Company is a corporation that has issued both preferred and comr a. On January 31, the board of directors issues a requirement to purchase Journalize the purchase utilizing the cost concept. Jan. 31 Cash Paid-in Capital from Sale of Treasury Stock idend on preferred stock of $2.75 per Retained Earnings equired, select "No Entry Required" and Supplies Treasury Stock Mar 25 b. On March 15, Carmen declares a dividend on preferred stock of $2.75 per s Journalize these events. If no entry is required, select "No Entry Required" and Mar. 15 Cash Dividends Payable Mar. 25 Cash Dividends Cash No Entry Required Mar. 31 Preferred Stock c. On December 1, Carmen declares a cash dividend on common stock of $0.12 Journalize these events. If no entry is required, select "No Entry Required" and lea Dec. 1 Cash Cash Dividends Payable Cash Dividends No Entry Required Paid-in Capital in Excess of Par Common Stock Cash Common Stock t 2,500 shares of the treasury stock purc Paid-in Capital-Treasury Stock es not require an entry, leave it blank. Paid-in Capital in Excess of Par - Common Stock Retained Earnings