LO11-4 Recording Dividends On April 15 of this year, the board of directors for Jedi Company...

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LO11-4 Recording Dividends On April 15 of this year, the board of directors for Jedi Company declared a cash dividend of 65 c

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Answer 1

Answer #1

Date	General Journal	Debit	Credit
April 15	Retained earnings	65,000
	Dividend payable		65,000
June 14	Dividend payable	65,000
	Cash		65,000

Dividend to be paid = Number of shares x Dividend per share

= 100,000 x 0.65

= $65,000

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Answer 2

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