Bubbles, Inc. has 150,000 stated value $5 shares outstanding. On April1st the company declared a $0.25...
Bubbles, Inc. has 150,000 stated value $5 shares outstanding. On April1st the company declared a $0.25 dividend for stockholders as of record on April 15th. The company paid the dividend on May 1st. Record the all journal entries. If one is not require you MUST write no entry required. .(14 points)
Homework Answers
| Journal Entries | |||||
| Date | Particulars | Debit | Credit | ||
| 1-Apr | Dividend | $ 37,500.00 | |||
| To Dividend Payable | $ 37,500.00 | ||||
| (150000 x $ 0.25) | |||||
| 1-May | Dividend Payable | $ 37,500.00 | |||
| To Cash | $ 37,500.00 | ||||
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