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15-18 - To Common Stock A/c $9,000 6 Preference Dividend...

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Journal Entries: 1. Preference Dividend A/c……………Dr $16,000 Divided on common stock A/c……Dr $40,000 To Bank $56,000 2. Treasury shares A/c…………………..Dr $108,000 To Bank $108,000 3. Land A/c……………Dr $30,000 To Treasury Shares A/c $28000 To Profit on stock A/c $2000 4. Bank A/c……………….Dr $52,500 To Preferred Stock A/c $50,000 To Securities Premium $2500 5. Stock Dividend A/c……Dr $9,000
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Unformatted text preview: To Common Stock A/c $9,000 6. Preference Dividend A/c……………Dr $20,000 Divided on common stock A/c……Dr $39,600 To Dividend Payable $59,600 Stock holders equity Preferred stock, 8%, $100 par (2500 shares issued) 250000 Common stock, $5 par (21800 shares issued) 109000 Additional paid in capital 127500 Less: Treasury stock 80000 Retained Earnings 327400 Total 733900...
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