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this is question and thats the requirement plz answer quicly Requirements - X a. What is the journal entry to record the issuance of preferred
this is question and thats the requirement plz answer quicly
Requirements - X a. What is the journal entry to record the issuance of preferred stock? b. What is the journal entry to record the declaration and payment of cash dividends in 2021? What footnote disclosures are necessary for dividends in arrears in fiscal year 2021? c. What footnote disclosures are necessary for dividends in arrears in fiscal year 2023? d. What is the journal entry to record the declaration and payment of cash dividends in 2024? Print Done on january 1 2020 paco comapny issued 1800 shares of 5% $105 per cumumlative preferred stock for $225000 on december 26 2021 the board of directors declared dividend of $13900 which were paid on december 31,2021 the board of directors didnt declare dividends again until december 24,2024 at which time they declared dividend of $44350 paco paid the dividends on december 27 2024 any dividends declared beyond what is due to the preferred stockholders go to common stockholders Step by Step Solution
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