Watkins Enterprises earned net income of $95,000 during the year ended December 31,2012. On December...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Watkins Enterprises earned net income of $95,000 during the year ended December 31,2012. On December 15, 2012, Watkins Enterprises declared the annual cash dividend on its 2% preferred stock (total par value, $140,000) and a $0.70 per share cash dividend on its common stock (80,000 shares outstanding). Watkins Enterprises then paid the dividends on January 4, 2013. Journalize for Watkins Enterprises a. declaring the cash dividends on December 15, 2012. b. paying the cash dividends on January 4, 2013
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
