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Pom Nutritious Pet Food Company's board of directors declares a cash dividend of $1.00 per common share on November 12. On this date, the company has issued 13,000 shares but 1,600 shares are held as treasury shares. What is the journal entry to record the declaration of this dividend? If an amount box does not require an entry, leave it blank Nov. 12 Retained Earnings Cash Dividends Payable 38 med Check My Wort Cash dividends are paid out to 'outstanding shareholders only. Outstanding shares are also considered 'issued including treasury stock. However, treasury stock is not considered outstanding since the company is currently haiding those shares. W Assignment - Chapter 14.2 Pet Food Comen's towd of director detersen 13,400 in se 30. Me tht , 3.400 w 5 para os preferred we com outsing on her What is the fouma entry to record the controle 88 Calendable dhe of the word CW AL 11/14/21, 1:12 PM CengageNOWV2 Online teaching and learning resource from Cengage Learning Nutritious Pet Food Company's board of directors declares a cash dividend of $1.00 per common share on November 12. On this date, the company has issued 13,000 shares but 1,600 shares are held as treasury shares. What is the journal entry to record the declaration of this dividend? If an amount box does not require an entry, leave it blank. Nov. 12 Retained Earnings Cash Dividends Payable Feedback Check My Work Cash dividends are paid out to 'outstanding' shareholders only. Outstanding shares are also considered 'issued' including treasury stock. However, treasury stock is not considered 'outstanding' since the company is currently holding those shares. 11/14/21.1:12 PM CengapeNOWv21 Online teaching and learning resource from Lengan Nutritious Pet Food Company's board of directors declares a cash dividend of $5,400 on June 30. At that time, there are 3,400 shares of $5 par value 6% preferred stock outstanding and 6,800 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend? If an amount box does not require an entry, leave it blank June 30 Retained Earnings (for preferred stock) Retained Earnings Cor common stock Cash Dividends Payable Feedback Check My Work Preferred shareholders must be paid dividends before common shareholders are paid. The preferred stock dividend percentage is used to determine the total amount of dividends they are to receive relative to the total value of the issues currently outstanding. Once they are paid, any remaining amount of the dividend is paid to common shareholders