Bonds Payable Buildings Cash Common Stock Common Stock Dividend Distributable De
ID: 2461503 • Letter: B
Question
Bonds Payable
Buildings
Cash
Common Stock
Common Stock Dividend Distributable
Debt Investments
Dividends Payable
Discount on Bonds Payable
Equipment
Equity
Equity Investments
Income Summary
Land
Legal Fees Expense
No Entry
Organization Expense
Paid-in Capital from Treasury Stock
Paid-in Capital in Excess of Par - Common Stock
Paid-in Capital in Excess of Par - Preferred Stock
Paid-in Capital in Excess of Stated Value - Common Stock
Preferred Stock
Property Dividends Payable
Retained Earnings
Treasury Stock
Unamortized Bond Issue Costs
Unrealized Holding Gain or Loss - Income
Explanation / Answer
Part 2
Yes sufficent cash is avialable for dividend
workings
DR DR For preferred dividends in arrears: Retained Earnings 1500*12 17820 Treasury Stock 17820 For 6% preferred current year dividend: Retained Earnings . 297000*.06 17820 Cash 17820 For $.40 per share common dividend: Retained Earnings 110160 Cash 110160