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Common and Preferred Dividends

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See attached file.
Preferred Stock Dividends
Based on the following information, illustrate the distribution of both
common and preferred stock dividends based on these two scenerios:
(1) Preferred stock is 7% and non-cummulative.
(2) Preferred Stock is 8% and cummulative.
(This will result in a total of 6 allocations, 2 for each of the 3 years.)
(3) Journalize the declaration of cash dividend for 2009 under part (2).
Shares of Preferred Stock
2,000
Par Value PS
$50
Shares of Common Stock
100,000
Par Value of CS
$10
Dividends 2007
$6,000
Dividends 2008
$12,000
Dividends 2009vidends 2009
28000,

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The solution explains how to calculate the amount of common and preferred dividends for the given situations.

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Based on the following information, illustrate the distribution of both
common and preferred stock dividends based on these two scenerios:
(1) Preferred stock is 7% and non-cummulative.
(2) Preferred Stock is 8% and cummulative.
(This will result in a total of 6 allocations, 2 for each of the 3 years.)
(3) Journalize the declaration of cash dividend for 2009 under part (2).
Shares of Preferred Stock 2,000
Par Value PS $50
Shares of Common Stock 100,000
Par Value of ...

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