1. SSC declares a cash dividend of $1.00 per share, and there are 300,000 shares issued...
1. SSC declares a cash dividend of $1.00 per share, and there are 300,000 shares issued and 280,000 shares outstanding. How much money will SSC pay to the shareholders? What is the journal entry accountants will enter in to the accounting records?
Homework Answers
Amount payable as dividend
= Shares outstanding * Dividends per share
= 280,000 * 1
= 280,000
| Retained earnings/Dividends | 280,0000 | |
| Dividends payable | 280,000 |
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