This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Triple S Supply Co. declared its annual cash dividend on its 3% preferred stock (total par value ... (Read 86 times)

stephzh

  • Hero Member
  • *****
  • Posts: 556
on: Feb 18, 2020
Triple S Supply Co. declared its annual cash dividend on its 3% preferred stock (total par value $98,000) and a $0.25 per share cash dividend on its common stock (54,000 shares outstanding). The journal entry for the declaration date is:
◦ debit Retained Earnings $16,440, credit Dividends Payable - Preferred $2,940, credit Dividends Payable - Common $13,500
◦ no entry required on the declaration date.
◦ debit Retained Earnings $13,500, credit Dividends Payable $13,500
◦ debit Retained Earnings $4,260, credit Dividends Payable - Preferred $2,940, credit Dividends Payable - Common $1,320
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by stephzh on Feb 18, 2020

reversalruiz

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


stephzh

  • Member
  • Posts: 556
Reply 2 on: Feb 18, 2020
Thanks for the timely response, appreciate it

LVPMS

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Total fertility rates (TFRs) among major regions of the world. Total fertility rates (TFRs) among major regions of the world.
Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ... Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ...
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Life Table for an Annual Plant Cohort Life Table for an Annual Plant Cohort
Video: Egg and Sperm Formations in Animals Animation

For a complete list of videos, visit our video library