Vive haiket Curest Autenipt in Presress trestine the sccountine for dividendh ard stock solit? and irccercetif as a detit to bividende feperve and a credit to Cmh. 2. A sk stock didend is 000 shureei was declared on the common shares when the fair value per share wan 512. To recced the declaration, Feetined famings was debited and Dividends Payable was credited. The thares have not been lisued yet. 1. The company declured a 2.10c-1 steck yplt on its 21,200, 54 nencimulative prelerred shares. The average per thare amount of the prefered shares befoce the citt wis $70. The sphit was recorded as a deble te Retained Earnings of $1.484,000 and a credit to Preferred Shares of 51.484.000. Determine if each of the above fransactions was recorded cerrectiv and, it not, propare the correct entry. FCredit account elther are tenter Of for the ancisifs (istalidibit ecties tytowe credit entries.)