BE 14-1, Ex 14-2, Ex 14-4 (for journal entries only)

BE 14-1
    Date    Account name and explanation    Debit    Credit
    Nov-01    Retained earnings    $ 80,000
         Dividends payable        $ 80,000
        (To record of dividend declaration)
        (80,000 shares * $1 = $80,000)
    Dec-31    Dividends payable    $ 80,000
         Cash        $ 80,000
        (To record of dividend paid)
E 14-2
    a)    Preferred stock dividends     Common stock dividends
    2016    $ 5,000    0
        (50 * 6 /100 = $3
        2000 shares * $3 = $6000)
        Only $5000 was declared,
        so whole amount need to
        pay only for preferred
        stock holders.
    2017    $ 6,000    $ 6,000
        (2000 shares * $3 = $6000)
        $12,000 - $6000 = $6000
        remaining $6000 alloted to
        common stock dividends
    2018    $ 6,000    $ 22,000
        (2000 shares * $3 = $6000)
        28,000 - $6000 = $22,000
        remaining $22000 alloted ...