Prepare Hodge”s journal entry to record the issuance of the preferred stock.


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Prepare Hodge”s journal entry to record the issuance of the preferred stock. 1 answer below ยป Hodge Corporation issued 100,000 shares of $20 par value, cumulative, 6% preferred stock on January 1, 2013, for $2,300,000. In December 2015, Hodge declared its first dividend of $500,000. Instructions (a)Prepare Hodge”s journal entry to record the issuance of the preferred stock. (b)If the preferred stock isnotcumulative, how much of the $500,000 would be paid tocommonstockholders? (c)If the preferred stock is cumulative, how much of the $500,000 would be paid tocommonstockholders? Jun 11 2014 04:12 PM

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