Strada Controls Inc has 100,000 common shares outstanding on January 1, 2016 On May 25, 2016, the board of directors declared a semi annual cash dividend of $1 per share The dividend will be paid on June 26, 2016 to shareholders of record on June 7, 2016 Required Prepare journal entries for 1 the d...

1 2016 May 25 Dividends Declared 100000 ...

Strada Controls Inc. has 100,000 common shares outstanding on January 1, 2016. On May 25, 2016, the

Question:

Strada Controls Inc. has 100,000 common shares outstanding on January 1, 2016. On May 25, 2016, the board of directors declared a semi-annual cash of $1 per share. The will be paid on June 26, 2016 to shareholders of record on June 7, 2016.
Required: Prepare journal entries for
1. the declaration of the the payment of the 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...