Windborn Company has 30,000 shares of cumulative preferred 1% stock, $150 par and 50,000 shares of $5 par common stock....
Windborn Company has 30,000 shares of cumulative preferred 1% stock, $150 par and 50,000 shares of $5 par common stock. The following amounts were distributed as dividends:
| Year 1 | $112,500 |
| Year 2 | 36,000 |
| Year 3 | 135,000 |
Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.
| Year 1 | Year 2 | Year 3 | |
| Preferred stock (Dividends per share) | $ | $ | $ |
| Common stock (Dividends per share) | $ | $ | $ |
On January 22, Limerick Corporation issued for cash 13,000 shares of no-par common stock at $50. On February 14, Limerick issued at par 6,000 shares of 3%, $80 par preferred stock for cash. On August 30, Limerick Corporation issued for cash 19,000 shares of preferred 3% stock, $80 par at $87.
Journalize the entries to record the January 22, February 14,
and August 30 transactions.
For a compound transaction, if an amount box does not require an
entry, leave it blank.
| Jan. 22 | |||
| Feb. 14 | |||
| Aug. 30 | |||
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Windborn Company has 30,000 shares of cumulative preferred 1% stock, $150 par and 50,000 shares of $5 par common stock....
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Question 2
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Question 2
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