On April 20, Raule Mining Corp. declared a dividend of $400,000 that is payable on June 1.
Question:
On April 20, Raule Mining Corp. declared a dividend of $400,000 that is payable on June 1. Of this amount, $150,000 is a return of capital. Raule had no contributed surplus on April 20. Prepare the April 20 and June 1 journal entries for Raule.
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To prepare the journal entries for Raule Mining Corp on April 20 and June 1 for the dividend declara...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-1119048541
11th Canadian edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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