Question
Using Lucas expertise at crafting incomprehensible legalese documents, your group writes and agrees upon a corporate charter. You also unanimously vote to authorize 1,000,000,000 (yes,
Using Lucas expertise at crafting incomprehensible legalese documents, your group writes and agrees upon a corporate charter. You also unanimously vote to authorize 1,000,000,000 (yes, thats billion) shares of $0.10 par value common stock and 1,000 shares of non-voting, 5% cumulative preferred stock with a $100 par value.
You:1,000 shares CS
Luca: 1,000 shares CS
Avelia: 3,000 shares CS, 10 shares PS
Mollena: 1,000 shares CS
Corrine: 4,000 shares CS
At the end of the Month Mr.Speakers declares a $10,000 dividend payable 2/1/2016. Record the journal entry for 1/31/2016. On 2/1/2016, how much will each owner receive?
You:
Luca:
Avelia:
Mollena:
Corrine:
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