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aev [14]
3 years ago
7

At December 31, 2020 and 2021, Oriole Company had outstanding 4000 shares of $100 par value 6% cumulative preferred stock and 18

800 shares of $10 par value common stock. At December 31, 2020, dividends in arrears on the preferred stock were $13000. Cash dividends declared in 2021 totaled $44600. What amounts were payable on each class of stock
Business
1 answer:
Anna11 [10]3 years ago
4 0

Answer:

See below

Explanation:

2020 2021

Allocation to preferred stock

Nil 44,600

Remainder to common stock

Nil 20,000

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MC Qu. 98 At the beginning of the recent... At the beginning of the recent period, there were 1,470 units of product in a depart
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[The following information applies to the questions displayed below.]
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Answer:

                                  Allied Merchandisers

                                        Journal Entries

Date           General Journal                         Debit        Credit

03-May   Merchandise Inventory               $20,000

                     To Cash                                                     $20,000

05-May    Accounts Receivable                 $21,000

                      To Sales                                                    $21,000

05-May     Cost of goods sold                     $15,000

                     To Merchandise Inventory                        $15,000

07-May      Sales Returns and allowances   $1,750  

                      To Accounts Receivable                           $1,750

07-May      Merchandise Inventory               $1,250

                      To Cost of goods sold                                $1,250

08-May      Sales Returns and allowances    $300

                       To Accounts Receivable                            $300

15-May        Cash                                             $18,571

                   Sales Discounts                           $379

                    ($18950*2%)

                         To Accounts receivable                           $18,950

                          ($21000-$1750-$300)

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