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The Shareholders' Equity Section of Karr Corporation at December 31

Question 192

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The shareholders' equity section of Karr Corporation at December 31, 2013 included the following: The shareholders' equity section of Karr Corporation at December 31, 2013 included the following: Dividends were not declared on the preferred shares in 2013 and are in arrears. On September 15, 2014, the board of directors of Karr Corporation declared dividends on the preferred shares for 2013 and 2014, to shareholders of record on October 1, 2014, payable on October 15, 2014. On November 1, 2014, the board of directors declared a $2 per share dividend on the common shares, payable November 30, 2014, to shareholders of record on November 15, 2014. Instructions Prepare the journal entries that should be made by Karr Corporation in 2014 on the dates indicated below: Dividends were not declared on the preferred shares in 2013 and are in arrears.
On September 15, 2014, the board of directors of Karr Corporation declared dividends on the preferred shares for 2013 and 2014, to shareholders of record on October 1, 2014, payable on October 15, 2014.
On November 1, 2014, the board of directors declared a $2 per share dividend on the common shares, payable November 30, 2014, to shareholders of record on November 15, 2014.
Instructions
Prepare the journal entries that should be made by Karr Corporation in 2014 on the dates indicated below: The shareholders' equity section of Karr Corporation at December 31, 2013 included the following: Dividends were not declared on the preferred shares in 2013 and are in arrears. On September 15, 2014, the board of directors of Karr Corporation declared dividends on the preferred shares for 2013 and 2014, to shareholders of record on October 1, 2014, payable on October 15, 2014. On November 1, 2014, the board of directors declared a $2 per share dividend on the common shares, payable November 30, 2014, to shareholders of record on November 15, 2014. Instructions Prepare the journal entries that should be made by Karr Corporation in 2014 on the dates indicated below:

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