Kiki Company has the following two types of stock:1. 15,00
Question and Solution
Kiki Company has the following two types of stock: 1. 15,000 shares of 10% cumulative preferred stock with a $30 par value. 2. 30,000 shares of common stock with a $1 par value. Kiki Company declared a $75,000 cash dividend. Make the necessary journal entry (or entries) to record this event.