Math Ac 110-Cash Dividens For Preferred And Common Shareholders

Cash dividens for preferred and common shareholdersWeaver Corporation had the following stock issued and outstanding at January 1, 2016: 1- 150,000 shares of $ 1 par common stock2- 15,000 shares of $ 100 par, 6 percent, noncumulative preferred stockOn June 10, Weaver Corporation declared the annual cash dividend on its 15,000 shares of preferred stock and a $ 0. 50 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20REQUIREDa) Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders. b) Prepare general journal entries to record the declaration and payment of the cash dividends (be sure to date your entries)

Originally posted 2018-07-11 22:53:17. Republished by Blog Post Promoter