Chapter 13 Need to Krc Chapter 13 HW XY e Solved: 1. Prepare the Jo x CSecure ht

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Chapter 13 Need to Krc Chapter 13 HW XY e Solved: 1. Prepare the Jo x CSecure https://newconnect.mheducation.com/flow/connect.html Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Raturn to question 1. Prepare the loumal entry to record lanas company's issuance of 5,000 shares ot $100 par value, 5102 cash per share. cumulative prefered stock tor Answer is complete and correct. No Dabit Cradit 510,000 Cash preferred sock, $100 par value Paid-in capital in cxcoss of par valuc, prcfcmed stock 10,000 2. Assuming the tacts in part 1, It Tamas declares a year-end cash dividend, what is the amount of cividend pad to preterred shareholders? Assume no dividends in arrears. Answer is complete but not entirely correct. Number of Dividend Rate Preferred Prefemed Preferred $ 100° 7(101% $ 102000 10,000 os 35.0000 12:10 AM Type here to search 9,7/2018

Explanation / Answer

2 Par value per share Dividend rate Dividend per preferred share No. of preferred shares Preferred dividend 100 7% 7 5000 35000

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