Aa 165. 2. Wrestling Corp hes the following shares, taken from the shareholders' equity section of its balancesheet dated December 31, 2018Preferred shares, $2.80/share cumulative,45,000 shares issuedCommon shares80,000 shares issued2021During its first four years of operations, Wrestling Corp. declared and paid total dividends as shown.YearTotal Dividend201920202022$100,000250,0001,800,000350,00080,000a. Calculate the total dividends paid in each year to the preferred and common shareholders. There isa section on the template to complete this.b. Record the journal entry for the 2022 declaration of dividends on December 31.c. Record the journal entry for the payment of the 2022 dividends on January 15, 2023

Dividend - Dividend is the amount distributed by the organization to the shareholders of the…

2. Wrestling Corp hes the following shares, taken from the shareholders' equity section of its balance sheet dated December 31, 2018 Preferred shares, $2.80/share cumulative, 45,000 shares issued Common shares 80,000 shares issued 1,800,000 350,000 80,000 During its first four years of operations, Wrestling Corp. declared and paid total dividends as shown. Year Total Dividend 2019 $100,000 2020 250,000 2021 2022 a. Calculate the total dividends paid in each year to the preferred and common shareholders. There is a section on the template to complete this b. Record the journal entry for the 2022 declaration of dividends on December 31. c. Record the journal entry for the payment of the 2022 dividends on January 15, 2023

2. Wrestling Corp hes the following shares, taken from the shareholders' equity section of its balance sheet dated December 31, 2018 Preferred shares, $2.80/share cumulative, 45,000 shares issued Common shares 80,000 shares issued 1,800,000 350,000 80,000 During its first four years of operations, Wrestling Corp. declared and paid total dividends as shown. Year Total Dividend 2019 $100,000 2020 250,000 2021 2022 a. Calculate the total dividends paid in each year to the preferred and common shareholders. There is a section on the template to complete this b. Record the journal entry for the 2022 declaration of dividends on December 31. c. Record the journal entry for the payment of the 2022 dividends on January 15, 2023

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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