during 2012 doxey corporation had the following transactions an 245979

During 2012, Doxey Corporation had the following transactions and related events:

Jan. 15 Issued 6,500 shares of common stock at par ($16 per share), bringing the total number of shares outstanding to 121,300.

Feb. 6 Declared a 50-cent-per-share dividend on common stock for stockholders of record on March 6.

Mar. 6 Date of record.

8 Pedro Garcia, a prominent banker, purchased 20,000 shares of Doxey common stock from the company for $346,000.

Apr. 6 Paid dividends declared on February 6.

June 19 Reacquired 800 shares of common stock as treasury stock at a total cost of $9,350.

Sept. 6 Declared dividends of 55 cents per share to be paid to common stockholders of record on October 15, 2012.

Oct. 6 The Dow Jones Industrial Average plummeted 300 points, and Doxey’s stock price fell $3 per share.

15 Date of record.

Nov. 16 Paid dividends declared on September 6.

Dec. 15 Declared and paid a 6% cash dividend on 18,000 outstanding shares of preferred stock (par value $32).

Given this information:

1. Prepare the journal entries for these transactions.

2. What is the total amount of dividends paid to common and preferred stockholders during 2012?

Related Articles

armstrong helmet company 239138

Armstrong Helmet Company manufactures a unique model of bicycle helmet Question Case project Learning Objectives: Prepare practical applications of course concepts Develop analytical and critical thinking Develop decision-making capabilities Enhance professional...

read more

Open chat
Need help? We are Online 24/7
Hello 👋
Can we help you?