d. Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held and 20,000 shares of preferred stock were outstanding. Description Debit Credit Common stock Preferred stock e. Paid the cash dividends declared in (d). Description Debit Credit f. Purchased 4% bonds issued by Solstice Corp. as an available-for-sale investment for $300,150. Description Debit Credit g. Purchased 8,000 shares of treasury common stock at $33 per share. Description Debit Credit h. Purchased 40,000 shares of Pinkberry Co.'s common stock directly from the founders for $24 per share. Pinkberry has 125,000 shares issued and outstanding. Description Debit Credit I. Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. Description Debit Credit
d. Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held and 20,000 shares of preferred stock were outstanding. Description Debit Credit Common stock Preferred stock e. Paid the cash dividends declared in (d). Description Debit Credit f. Purchased 4% bonds issued by Solstice Corp. as an available-for-sale investment for $300,150. Description Debit Credit g. Purchased 8,000 shares of treasury common stock at $33 per share. Description Debit Credit h. Purchased 40,000 shares of Pinkberry Co.'s common stock directly from the founders for $24 per share. Pinkberry has 125,000 shares issued and outstanding. Description Debit Credit I. Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. Description Debit Credit
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings
Section: Chapter Questions
Problem 3SEB: COMMON AND PREFERRED CASH DIVIDENDS Ramirez Company currently has 100,000 shares of 1 par common...
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