Business, 11.05.2021 15:30 firdausmohammed80

Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 127,000 shares of $12 par common stock. 7,500 shares of $150 par, 7 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 7,500 shares of preferred stock and a $3 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Prepare general journal entries to record the declaration and payment of the cash dividends.
1. On 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.
2. The shareholders on record on June 20 will receive a dividend payment to be paid July 1.
3. On July 1, the dividends are paid to the shareholders of record on June 20.
4. On December 31, the closing entry for dividends is recorded.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 22:20

Outstanding stock consists of 8,300 shares of cumulative 7% preferred stock with a $10 par value and 4,300 shares of common stock with a $1 par value. during the first three years of operation, the corporation declared and paid the following total cash dividends. year dividend declared 2016 $ 0 2017 $ 7,300 2018 $ 45,000 the amount of dividends paid to preferred and common shareholders in 2018 is:

Answers: 2

Answer

Business, 21.06.2019 23:50

Juan has a retail business selling skateboard supplies he maintains large stockpiles of every item he sells in a warehouse on the outskirts of town he keeps finding that he has to reorder certain supplies all the time but others only once a year how can he solve this problem?

Answers: 1

Answer

Business, 22.06.2019 10:00

Carrie works at a canned food production factory. the government wanted to give a boost to the salt industry, so it lined up numerous subsidies and tax exemptions for the sector. this lead to a decrease in production costs. this also meant that consumers could access canned foods at a lower price, which lead to an increase in demand for the product. which kind of economic system is carrie’s company dealing with? carrie’s company is dealing with a/an economy.

Answers: 2

Answer

Business, 22.06.2019 10:00

Which term best fits the sentence? is the process of reasoning, analyzing, and making important decisions. it’s an important skill in making career decisions. a. critical thinking b. weighing pros and cons c. goal setting

Answers: 1

Answer

You know the right answer?

Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 127,000 shar...

Questions