Sky Corp. declared on May 20, a dividend of $1,0000,000 payable on July 1. Of this...
Sky Corp. declared on May 20, a dividend of $1,0000,000 payable
on July 1. Of this amount $250,000 is a return of capital. The
journal entry to record this transaction would be?
Homework Answers
The entry would be
| Retained earnings | 750,000 | |
| Paid in capital | 250,000 | |
| Dividends payable | 1,000,000 |
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Sky Corp. declared on May 20, a dividend of $1,0000,000 payable
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