Seore: 0.86 r2ps S13-7 (similar to) E Question Help ? .cempany earned ret ncerme

Question

Seore: 0.86 r2ps S13-7 (similar to) E Question Help ? .cempany earned ret ncerme of S 75,000 curing re year ended December 31, 201 a on December 1s, Carmei ceeaed anna aan avoen en s v seen ed isa pe ao 118,000) and a50.25 per share cash dividend on ts common stock(42,000 shares) Carmel then paid the dividends on January 4, 2019 Read the eemt Requirement 1, mraize for Camel table) enry decanngthe cash Cvdends cn December 15, 2018 (Record debts frst, then credts Select the explanation on re li, ne of he-ournal etry Date 2018 De: 15 Cash Dividends Accounts and Explanation Debit Credit 4,040 Dividends Payable-Prelered 3,540 10,500 Requirement 2. Joumalze for Carme the entry ying the cash dvidends on January 4,2019 (Recond Gets frst, then credts Select the expilanation on the last ine of the jounal entry table) Date Aocounts and Explanation Debit Credit 2019 Choose from any list or enter any number in the input felds and then click Chack Answer Clear All Check Answer Dividend payable 44000

Explanation / Answer

15-Dec Cash dividends 14040             Dividends payable-Preferred 3540 =118000*3%          Dividends payable-Common 10500 =42000*0.25 4-Jan Dividends payable-Preferred 3540 Dividends payable-Common 10500         Cash 14040

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