On October 1, 2024, Wildhorse Co. declared an annual cash dividend to preferred shareholders of $5 per share; at the time the dividend was declared, there were 2,500 preferred shares issued and outstanding. The date of record for the dividend was December 1 and the dividend was paid on December 31. On October 31, 2024 the company also declared a 4% stock dividend for common shareholders; at the time the stock dividend was declared the common shares were trading at $10 per share and Wildhorse had 23,000 commons shares issued and outstanding. The date of record was December 15 and the issuance date of the dividend was December 31. (a) Record any and all journal entries that occurred on each of the dates indicated above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter "O" for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

On October 1, 2024, Wildhorse Co. declared an annual cash dividend to preferred shareholders of $5 per share; at the time the dividend was declared, there were 2,500 preferred shares issued and outstanding. The date of record for the dividend was December 1 and the dividend was paid on December 31. On October 31, 2024 the company also declared a 4% stock dividend for common shareholders; at the time the stock dividend was declared the common shares were trading at $10 per share and Wildhorse had 23,000 commons shares issued and outstanding. The date of record was December 15 and the issuance date of the dividend was December 31. (a) Record any and all journal entries that occurred on each of the dates indicated above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter "O" for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

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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