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  3. preferred stock can be issued with different featu

Preferred stock can be issued with different features. When the Consider the same scenario as...

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Accounting

Preferred stock can be issued with different features. When the Consider the same scenario as in Question #4, except now assume the resale price of the 25,000 treasury shares was $10 per share (instead of $19, as in #4). Further assume that there was a $100,000 credit balance in the Paid-in Capital--Treasury Stock account just prior to the resale. To record the resale of the treasury shares, Shortwave should debit cash for $250,000 and of a preferred stock issue require that if the corporation fails to pay aShortwave Corp. issued 300,000 shares of $0.01 par common stock for in 2016 for $3,600,000. During 2019, Shortwave paid $15 per share to repurchase 25,000 shares of its own common stock as treasury shares. Three months later Shortwave resold all 25,000 treasury shares at $19 per share. Shortwave uses the cost method to record treasury stock transactions. To record the resale of the 25,000 treasury shares, Shortwave should creditdividend in any year, it must make it up in a later year before paying any dividends to common stockholders, the preferred stock is said to be

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