On December 31,2027,Bramble, Inc. has 4400shares of 6%$100par value cumulative preferred stock and 60800shares of...
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Accounting
On December Bramble Inc. has shares of $par value cumulative preferred stock and shares of $par value common stock outstanding. On December the directors declare a $cash dividend. The entry to record the declaration of the dividend would include:
aA note in the financial statements that dividends of $per share are in arrears on preferred stock for
bA credit of $to cash dividends.
cA debit of $to common stock
dA credit of $to dividends payable.
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