On December 15, Taylor Corporation declared a cash dividend of $0.77 per share to be paid on

Question:

On December 15, Taylor declared a cash of $0.77 per share to be paid on January 15 to stockholders of record on December 31. Taylor has 154 million shares of outstanding.
Required
Identify the date of declaration, the date of record, and the payment date, and prepare all necessary journal entries on those dates.
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... 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...