Spinning Ltd had 15 000 shares issued. On 30 June 2016, a cash dividend of $0.15 per
Question:
Spinning Ltd had 15 000 shares issued. On 30 June 2016, a cash dividend of $0.15 per share was declared. The dividend was paid on 31 July 2016. Prepare journal entries to record the declaration and payment of the dividend.
Step by Step Answer:
To journalize the declaration and payment of a cash dividend ...View the full answer
Financial Accounting Reporting Analysis And Decision Making
ISBN: 9780730313748
5th Edition
Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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