Hi I need help with this question please.
The shareholder's equity section of Hamilton Corporation at
December 31, 2018, included the following:
- Preferred share, $2, cumulative, 10,000 shares authorized, 8,000
shares issued .......... $320,000
- Common shares, unlimited number authorized, 300,000 shares issued
......................... $2,400,000
Dividends were not declared on the preferred shares in 2018 and are
in arrears.
The following transactions occurred during 2019
1) Issued 100,000 common shares for cash at $9 per share on March
1
2) Declared a preferred dividend for 2018 and 2019 on September
1st, to the preferred shareholders of record on September 20th,
payable on September 30th
3) Issued 2,000 preferred shares on November 28, 2019 for cash at
$42 per share
4) Declared a $.30 (30 cent) dividend on December 5, 2019, to the
common shareholders of record on December 20,2019, payable on
December 31st, 2019
REQUIRED: Prepare the journal entries for all transactions. If no
entry is needed write "No entry required". No explanations required
but show any calculations.
ANSWER
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Hi I need help with this question please. The shareholder's equity section of Hamilton Corporation at...
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