Question

what is divident per prefferred share

LUMELI UF the work you have completed so far, it does not indicate complir 1. Prepare the journal entry to record Tamas Company's issuance of 5,000 shares of $100 par value, 7% cumulative preferred stock for $102 cash per share. No Transaction Answer is complete and correct General Journal Cash Preferred stock $100 par value Paid in capital in excess of par value, preferred stock Debit 510,000 Credit 500,000 10,000 2. Assuming the facts in part 1, If Tamas declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.) Par Value per Preferred Share 100 Answer is complete but not entirely correct. Dividend Number of Dividend per Preferred Rate Preferred Preferred Dividend Shares Share 7.0 % 14.20 5,000 $ 35,000

Answer 1

Credit General Debit Journal 5,10,000 Cash 5.00.000 Preference Stock $100 per value 10000 paid G in capital in excess par value, preferred Stock 2. Total No. of preference shores • 5000 shoones Dividend avaliable for prefernce - $ 85000 shares Dividend per poedeynce Shores - $ 3:5000 5000 shares $7 per share. -