Griseta Corporation was organized on January 1, 2011. - 14074

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Question 2

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Griseta Corporation was organized on January 1, 2011. During its first year, the corporation issued 2,000 shares of $51 par value preferred stock and 107,700 shares of $13 par value common stock. At December 31, the company declared the following cash dividends: 2011, $6,061, 2012, $13,427, and 2013, $28,785.

 

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Your answer is correct.

 

 

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and not cumulative. (If answer is zero, please enter 0. Do not leave any fields blank.)

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. (If answer is zero, please enter 0. Do not leave any fields blank.)

Journalize the declaration of the cash dividend at December 31, 2013, under previous question above.

 

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