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Rodriguez Corporation issues 9,000 shares of its common stock for $160,200 cash on February 20. Prepare journal entries to record this event under each of
Rodriguez Corporation issues 9,000 shares of its common stock for $160,200 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $16 par value. 2. The stock has neither par nor stated value. 3. The stock has a $8 stated value. York's outstanding stock consists of 90,000 shares of noncumulative 70% preferred stock with a $5 par value and also 160,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends. 2016 total cash dividends 2017 total cash dividends $ 19,800 29,500 2018 total cash dividends 2019 total cash dividends $285,000 435,000 Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined. (Round your "Dividend per Preferred Share" answers to 3 decimal places.) Par Valuo per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Preferred Dividend Annual Preferred Dividend: Total Cash Dividend Pald Paid to Preferred Pald to Common Dividends in Arrears at year-end $ 2016 2017 2018 2019 Total: 19,800 29,500 285,000 435,000 769,300 $
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