2S 11-11 (Algo) Preferred stock issuance and dividends LO C2 1. Prepare the journal entry...
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2S 11-11 (Algo) Preferred stock issuance and dividends LO C2 1. Prepare the journal entry to record Tamas Company's issuance of 5,200 shares of $100 par value, 7% cumulative preferred stock for $102 cash per share. 2. Assuming the facts in part 1, if Tamas declares a year-end cash dividend, what is the amount of dividend paid to preferred shareholders? (Assume no dividends in arrears) Complete this question by entering your answers in the tabs below. Prepare the journal entry to record Tamas Company's issuance of 5,200 shares of $100 par value, 7% cumulative preferred stock for $102 cash per share. Journal entry worksheet Record the issuance of 5,200 shares of $100 par value, 7% cumulative preferred stock for $102 cash per share. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Assuming the facts in part 1, if Tamas 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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