Dachee
Jul 27, 2009, 11:49 AM
i have a problem my teacher did not go over this while in class and now i have a problem like this and i can do it. the problem is
Klammer Consulting, has 10,000 shares of $4.50, no-par perferred atock and 50,000 shares of no-par common stock outstanding. Klammer declared and paid the following dividens during a three-year period: 2006, $20,000; 2007, $100,000; and 2008, $200,000
1. compute the total dividens to preferred stock and to common stock for each of the three years
a. preferred is noncumulative
b. preferred is cumulative
2. for case (1b) journalize the declaration of the 2008 dividens on December 28, 2008, and the payment of the dividens on January 17, 2009. use seperate dividens payable for preferred and common stock
Klammer Consulting, has 10,000 shares of $4.50, no-par perferred atock and 50,000 shares of no-par common stock outstanding. Klammer declared and paid the following dividens during a three-year period: 2006, $20,000; 2007, $100,000; and 2008, $200,000
1. compute the total dividens to preferred stock and to common stock for each of the three years
a. preferred is noncumulative
b. preferred is cumulative
2. for case (1b) journalize the declaration of the 2008 dividens on December 28, 2008, and the payment of the dividens on January 17, 2009. use seperate dividens payable for preferred and common stock