Date | Account Titles and Exlanation | Debit | Credit |
6/1 | Retained Earnings | $8,343,000 | |
Dividend Payable | $8,343,000 | ||
(10.30 million X 0.81= $8,343,000) | |||
6/14 | No Entry | ||
No Entry | |||
6/30 | Dividends Payable | $8,343,000 | |
Cash | $8,343,000 | ||
Date | Account Titles and Exlanation | Debit | Credit |
6/1 | Additional Paid in Capital - Common Stock | $8,343,000 | |
Dividend Payable | $8,343,000 | ||
(10.30 million X 0.81= $8,343,000) | |||
6/14 | No Entry | ||
No Entry | |||
6/30 | Dividends Payable | $8,343,000 | |
Cash | $8,343,000 | ||
Pearl Corporation has 10.30 million shares of common stock issued and outstanding. On June 1, the...
Culver Corporation has 10.30 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 81 cents per share cash dividend to stockholders of record as of June 14, payable June 30. Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
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Sheridan Corporation has 10.30 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 81 cents per share cash dividend to stockholders of record as of June 14, payable June 30. Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
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