On April 15, 2017, the board of directors for Auction.coin declared a cash dividend of 65 cents
Question:
On April 15, 2017, the board of directors for Auction.coin declared a cash dividend of 65 cents per share payable to shareholders of record on May 20. The dividends are payable on June 14. The company has 100,000 cornn1on shares outstanding. Prepare any necessary journal entries for each
date.
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...
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Related Book For 
Financial Accounting
ISBN: 978-1259105692
6th Canadian edition
Authors: Robert Libby, Patricia Libby, Daniel G Short, George Kanaan, Maureen Sterling
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