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malry187 malry187
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ANS, Inc. has 50,000 shares of common stock outstanding and 2,000 shares of preferred stock outstanding. The common stock has a $1.00 par value. The preferred stock has a $100 par value, a 5% dividend rate, and is noncumulative. On October 31, 2017, the company declares the annual preferred dividend and dividends of $0.25 per share for common. Prepare the journal entry for the declaration of dividends.
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Horngren's Accounting

Horngren's Accounting


Edition: 11th
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einsteineinstein
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malry187 Author
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Thanks for your help!
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