Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

16 The board of directors of Capstone Inc, declared a $0.70 per share cash dividend on its $2 par common stock. On the date of

16image text in transcribed

The board of directors of Capstone Inc, declared a $0.70 per share cash dividend on its $2 par common stock. On the date of declaration, there were 49,000 shares authorized, 23,000 shares issued, and 6,000 shares held as treasury stock. What is the entry when the dividends are declared? A. 11,900 11,900 B. 11,900 11,90 Dividends Dividends Payable Dividends Cash Dividends Dividends Payable Dividends Cash c. 34,300 D. 16,100 16.100 Hallo Multiple Choice O Option 0 Option B 0 Option D 0 Option A

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contemporary Auditing

Authors: Michael C Knapp

12th Edition

357515404, 978-0357515402

More Books

Students also viewed these Accounting questions

Question

What reward policy would you suggest to the university?

Answered: 1 week ago