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Journalize the entries that company will record

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Question - King Corporation declares cash dividends as shown below. The dividends were formally authorized for payment on November 1 for shareholders of record on November 20 and will be paid in cash to shareholders on December 15. Determine the total dividends declared on King's common and preferred stock.

  Shares 
Outstanding		 Dividends 
per share		 Total 
Dividends
Common Stock, $10 par 104,000 $1.85 $
Preferred Stock, $4 par 40,000 $0.50
Total dividends     $

Journalize the entries that King Company will record on the date of declaration, date of record, and date of payment. If no entry is required, select "No Entry Required" and leave the amount boxes blank or enter "0".

Reference no: EM131751482

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