Question

July 15 Declared a cash dividend payable to common stockholders of $164,000. Aug. 15 Date of...

July 15 Declared a cash dividend payable to common stockholders of $164,000.
Aug. 15 Date of record is August 15 for the cash dividend declared on July 15.
Aug. 31

Paid the dividend declared on July 15


Prepare journal entries to record the above transactions for Emerson Corporation.

  • Record the declaration of a cash dividend payable to common stockholders.

Note: Enter debits before credits.

Date General Journal Debit Credit
Jul 15
  • Record the date of record for the cash dividend.

Note: Enter debits before credits.

Date General Journal Debit Credit
Aug 15
  • Record the payment of cash dividend.

Note: Enter debits before credits.

Date General Journal Debit Credit
Aug 31
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Answer #1
Jul 15 Cash dividends 164,000
Dividends payable 164,000
Aug 15 NO ENTRY
Aug 31 Dividends payable 164,000
Cash 164,000
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