ABC Corporation was organized on January 1, 2019. During its first year, the corporation issued 100,000 shares of $5 par value preferred stock and 400,000 shares of $1 par value common stock. At December 31, the company declared the following cash dividends: Instruc Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 9% and cumulative. Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30 . Prepare the necessary entries for the declaration and payment of the stock dividend. Perry Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 30% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30 . Prepare the necessarv entries for the declaration and pavment of the stock dividend
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