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Coronado Limited has the following information available regarding its share capital at December 31, 2023:
Preferred shares, $3.50 cumulative, 19,200 shares issued
Preferred shares, $4.50 noncumulative, 9,600 shares issued
Common shares, 288,000 shares issued
$960.000
480.000
1,440,000
The shares were issued when the corporation began operations on January 1, 2022. No dividends were declared during 2022 and
2023. On October 27, 2024, the board of directors declares the required preferred share dividends and a $0.50 dividend for each of the common shares. The dividends are payable on December 1, 2024, to the shareholders of record on November 16, 2024.
prepare journal entries on the appropriate dates for the 2024 dividends
Sagot :
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