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 55 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
YES! Correct, THANKS for helping me on my review

frankwu0507

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Annual net primary productivity on Earth. Annual net primary productivity on Earth.
Total hip prosthesis. Total hip prosthesis.
An educational institution has total direct labor and material costs of $1964 per student. Its ... An educational institution has total direct labor and material costs of $1964 per student. Its ...
Jawad makes semi-annual contributions of $2000 starting on his 27th birthday. How much will he ... Jawad makes semi-annual contributions of $2000 starting on his 27th birthday. How much will he ...
What is the total resistance of the circuit in Figure 1? 150 What is the total resistance of the circuit in Figure 1? 150
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Cognitive development by Piaget (Preoperational stage or intelligence)

For a complete list of videos, visit our video library