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Business, 30.06.2021 01:40 amazeking3545
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1:
1. 70,000 shares of $14 par common stock.
2. 7,500 shares of $100 par, 7 percent, non-cumulative preferred stock.
On June 10, Weaver Corporation declared the annual cash dividend on its 7,500 shares of preferred stock and a $2 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20.
Prepare general journal entries to record the declaration and payment of the cash dividends.
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Weaver Corporation had the following stock issued and outstanding at January 1, Year 1:
1. 70,000 s...
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