a. Prepare the journal entry to record Stefan Companys issuance of 12,000 shares of $50...
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Accounting
a. Prepare the journal entry to record Stefan Companys issuance of 12,000 shares of $50 par value 6% cumulative preferred stock for $75 cash per share. b. Assuming the facts in part 1, if Stefan declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.)
a. Prepare the journal entry to record Stefan Companys issuance of 12,000 shares of $50 par value 6% cumulative preferred stock for $75 cash per share.
b. Assuming the facts in part 1, if Stefan declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears.)
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