Lotoya Davis Corporation has 10 million shares of common stock issued and outstanding, On June 1, the board of directions voted an 80 cents per share cash dividend to stockholders of record as of June 14, payable June 30 Instructions (a) Prepare the journal entry for each of the dates above assumin...

Part A On the date of declaration In case of cash dividend declared by the company it will utilize t ...

Lotoya Davis Corporation has 10 million shares of common stock issued and outstanding, On June 1, the

Question:

Lotoya Davis has 10 million shares of issued and outstanding, On June 1, the board of directions voted an 80 cents per share cash to stockholders of record as of June 14, payable June 30.
Instructions
(a) Prepare the journal entry for each of the dates above assuming the represents a of earnings.
(b) How would the entry differ if the were a liquidating Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...