Question

Exercise 14-02 a-c Crane Corporation was organized on January 1,2019. During its first year, the corporation issued 1,900 shares of $50 oar value preferred stock and 102,000 shares of $10 par value common stock At December 31, the company declared the following $5,250; 2020, $14,000; and 2021, $27,500 Show the allocation of dividends to each dass of stock, assuming the preferred stock dividend is 7% and noncumulative. 2019 2020 2021 Allocation to preferred stock Allocation to common stock LINK TO TEXT Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 9% and cumulative. 20190 2021 2020 Allocation to preferred stock Allocation to common stock LINK TO TEXT oumalize the declaration of the cash dividend at December 31, 2021, under part (b). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the ac for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Click if you would like to Show Work for this question: Oen Show Work LINK TO TEXT

Answer 1

Above figures have been calculated in the following manner: