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Help Save & Exit 1- Assignment 2 You received partial credit in the previous attempt. Check my work View previous at 1 Exercise 11-7A Cash dividends for preferred and common shareholders LO 11-3 Weaver Corporation had the following stock issued and outstanding at January 1, Yeart 1.150,000 shares of $1 par common stock 2. 15,000 shares of $100 par, 6 percent, noncumulative preferred stock. Rook On June 10, Weaver Corporation declared the annual cash dividend on its 15,000 shares of preferred stock and a $0.50 per share dividend for common shareholders. The dividends will be paid on July 1to the shareholders of record on June 20. AN Required a. Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders. preces Total dn dond $ 165,000 b. Prepare general journal entries to record the declaration and payment of the cash dividends. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction ist Tarzand Abkant Prey 1 of 2 Next > MacBook Air You received partial credit in the previous attempt. 1 Check my wo b. Prepare general journal entries to record the declaration and payment of the cash dividends. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet 10 points X Debit Credit eBook / Ass On June 10, Weaver Corporation declared the annual cash dividend on its 15,000 shares of preferred stock and a $0.50 per share dividend for the common shareholders. 2. The shareholders on record on June 20 will receive a dividend payment to be paid July 1. 3. On July 1, the dividends are paid to the shareholders of record on June 20 References 4 On December 31, the closing entry for dividends is recorded. Note: journal entry has been entered Mc GE HII Prav 1 of 2 !!! Next > MacBook Air

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