Fetzer Company declared a $0.15 per share cash dividend. The company has 320,000 shares authorized, 304,000 shares issued, and 12,800 shares in treasury stock. The journal entry to record the payment of the dividend is: 题目解析 X 正 在 帮 您 自 动 填 写 . . . Accounting for Preferred Stock Issued Above Par Value When a company issues preferred stock above its par value, the excess amount received is recorded in an additional paid-in capital account. Example Breakdown: Let's assume the following: Number of Shares Issued: 70 shares Par Value per Share: 30 Cash Received per Share: 4000 Calculations: Par Value of Preferred Stock: 70 shares × 30 par value = 2,100 Cash Received: 4,000 Excess Over Par Value: 4,000 - 2,100 = 1,900 Journal Entry: Account Debit Credit Cash 4,000 Preferred Stock 2,100 Paid-in Capital in Excess of Par Value, Preferred Stock 1,900 Correct Option: 3. Debit Cash 4,000; credit Paid-in Capital in Excess of Par Value, Preferred Stock 1,900, credit Preferred Stock 2,100. This journal entry accurately reflects the increase in cash, the increase in the preferred stock account at par value, and the increase in additional paid-in capital for the amount received above par. 点赞