3. The shareholders' equity section of Korr Corporation at December 31, 2013 included the following: $6 preferred shares, cumulative, 10,000 shares authorized, 8,000 shares issued $ 800,000 Common shares, 250,000 shares authorized, 200,000 shares issued Dividends were not declared on the preferred shares in 2013 and are in arrears. $2,000,000 On September 15, 2014, the board of directors of Korr Corporation declared dividends on the preferred shares for 2013 and 2014, to shareholders of record on October 1, 2014, payable on October 15, 2014. On November 1, 2014, the board of directors declared a $2 per share dividend on the common shares, payable November 30, 2014, to shareholders of record on November 15, 2014. Instructions Prepare the journal entries that should be made by Korr Corporation in 2014 on the dates indicated below September 15 October 1 November 1 November 15 October 15 November 30 If no journal entry is needed on a particular date, please say

3. The shareholders' equity section of Korr Corporation at December 31, 2013 included the following: $6 preferred shares, cumulative, 10,000 shares authorized, 8,000 shares issued $ 800,000 Common shares, 250,000 shares authorized, 200,000 shares issued Dividends were not declared on the preferred shares in 2013 and are in arrears. $2,000,000 On September 15, 2014, the board of directors of Korr Corporation declared dividends on the preferred shares for 2013 and 2014, to shareholders of record on October 1, 2014, payable on October 15, 2014. On November 1, 2014, the board of directors declared a $2 per share dividend on the common shares, payable November 30, 2014, to shareholders of record on November 15, 2014. Instructions Prepare the journal entries that should be made by Korr Corporation in 2014 on the dates indicated below September 15 October 1 November 1 November 15 October 15 November 30 If no journal entry is needed on a particular date, please say

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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The shareholders' equity section of Charles Corporation at December 31, 2024, included the following: $4 preferred shares, cumulative, 10,000 shares authorized, 4,000 shares issued $400,000 Common shares, 500,000 shares authorized, 350,000 shares issued 2,000,000 Dividends were not declared on the preferred shares in 2024 and are in arrears. On September 15, 2025, the board of directors of Charles Corporation declared all of the annual dividends on the preferred shares for 2024 and 2025, to shareholders of record on October 1, 2025, payable on October 15, 2025. The amount of total dividends declared on preferred shares on September 15, 2025, is $32,000. $16,000. $20,000. ○ $64,000.
JKL Corp. reported the following amounts in the shareholders' equity section of its December 31, 2015, statement of financial position: Preference shares, P10 par (100,000 shares authorized, 40,000 shares issued) P400,000 Ordinary shares, P5 par (50,000 shares authorized, 20,000 shares issued) 100,000 Share premium – Ordinary shares 192,000Accumulated profits 1,200,000 The following transactions occurred during 2016: At the beginning of 2016, the company…