Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can someone please help with these 2 journals 8. On July 1. Telstar Corporation declared a $250 per share cash dividend on its common stock

can someone please help with these 2 journals image text in transcribed
image text in transcribed
8. On July 1. Telstar Corporation declared a $250 per share cash dividend on its common stock (32,000 shares) for stockholders on record as of July 15. Telstar paid the dividend on July 31. Journalize the entries declaring the cash dividend and paying the dividend. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the entry declaring the cash dividend, Date Accounts and explanation Debit Credit 8. On July 1, Telstar Corporation declared a $2.50 per share cash dividend on its common stock (32,000 sh dividend on July 31. Journalize the entries declaring the cash dividend and paying the dividend. (Record de the journal entry table.) Journalize the entry paying the dividend. Date Accounts and Explanation Debit Credit Jul 31

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

Step: 3

blur-text-image

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

Fundamentals Of Oil And Gas Accounting

Authors: Charlotte Wright

6th Edition

9781593703639

More Books

Students also viewed these Accounting questions

Question

How are internal control and corporate governance interrelated?

Answered: 1 week ago

Question

2. Should a disciplinary system be established at Carter Cleaning?

Answered: 1 week ago

Question

1. What would you do if you were Jennifer, and why?

Answered: 1 week ago

Question

1. Explain what is meant by ethical behavior.

Answered: 1 week ago