On October 15, 2016, the board of directors of Winks Corporation declared a cash dividend of $3 per share on its 85,000 outstanding shares of common stock The dividend is payable on November 15 to stockholders of record on October 30 Give any general journal entries necessary on October 15, October...

GENERAL JOURNAL PAGE DATE DESCRIPTION POST REF DEBIT CREDIT 2016 Oct 15 ...

On October 15, 2016, the board of directors of Winks Corporation declared a cash dividend of $3

Question:

On October 15, 2016, the board of directors of Winks declared a cash of $3 per share on its 85,000 outstanding shares of common stock. The is payable on November 15 to stockholders of record on October 30. Give any general journal entries necessary on October 15, October 30, and November 15, 2016.
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...