Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common....

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Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of tock

Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021

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Answer 1

Answer #1

		Debit	Credit
December 01,2021	Dividends	7392		=(360+4600+1700-460+260+260)*1.10
	Dividends payable		7392

December 15,2021	No Journal entry required

December 31,2021	Dividends payable	7392
	Cash		7392

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Answer 2

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