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The shareholders' equity section of Zendaya Corporation at December 31, 2020 included the following: $6 preferred shares, cumulative, 10,000 shares authorized, 8,000 shares issued Common
The shareholders' equity section of Zendaya Corporation at December 31, 2020 included the following: $6 preferred shares, cumulative, 10,000 shares authorized, 8,000 shares issued Common shares, 250,000 shares authorized, $ 800,000 200,000 shares issued............... Dividends were not declared on the preferred shares in 2020 and are in arrears. $2,000,000 On September 15, 2021, the board of directors of Zendaya Corporation declared dividends on the preferred shares for 2020 and 2021, to shareholders of record on October 1, 2021, payable on October 15, 2021. The board of directors also declared a $2 per share dividend on the common shares for the same dates. Instructions Prepare the journal entries that should be made by Zendaya Corporation in 2021 on the dates indicated below: (9 Marks - 3 per entry) September 15 October 1 October 15
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