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Required information The flowing information miles to the questions displayed below! Homestead of Corp. was incorporated on January 1, 2019, and issued the following stock
Required information The flowing information miles to the questions displayed below! Homestead of Corp. was incorporated on January 1, 2019, and issued the following stock for cash 870,000 shares of no par common stock were authorized: 150.000 shares were issued on January 1, 2019, $19.00 per share 290,000 shares of $90 par value, 8.50% cumulative preferred stack were authorized 65.000 shares were issued on January 1, 2019, at $150 per share. Net income for the years ended December 31, 2019 and 2020 was $1.340,000 and $2.450,000, respectively - No dividends were declared or paid during 2019. However, on December 282020, the board of directors of Homestead declared dividends of $1750.000, payable on February 12. 2021, to holders of record as of January 19, 2021 Prepare the journal entries to record each of the below transactions. It no entry is required for a transaction/event, select "No Journal entry required in the first account field.) 1. The issuance of common stock and preferred stock on January 1, 2019 2. The declaration of dividends on December 28, 2020 3. The payment of dividends on February 12, 2021 View transaction lit View journal entry worksheet Na 3 General Journal Debn Dato February 12, 2021 Dividends payable Credit
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