Chapter 11, Problem 11.10E

(a)

To determine

Preferred stock: The stock that provides a fixed amount of return (dividend) to its stockholder before paying dividends to common stockholders is referred as preferred stock.

Par value: It refers to the value of a stock that is stated by the corporation’s charter. It is also known as face value of a stock.

To Journalize: The given transactions.

(b)

To determine

To Post: the journal entries into the stockholders’ equity accounts for Corporation T.

(c)

To determine

To indicate: The financial statement presentation of the related accounts.