Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

can you please solve it On April 15, 2021, Marigold Ltd declared a 50t per share cash dividend payable on May 31 to shareholders of

image text in transcribed

can you please solve it

On April 15, 2021, Marigold Ltd declared a 50t per share cash dividend payable on May 31 to shareholders of record on May 1. On the date of dedaration Marieold Ltd. had 266,000 common shares outstanding on May 15,2021, the company issued an additional 73,000 common shares for $9 each. On May 31, the dividend was pald. On December 15, 2021 Marigold Lod. dedared a 50 per share cash dividend payable on January 15, 2022 to shareholders of recordon January 2, 2022 Prepare all the required journal entries to record these transactions. (Credit account ttles are automatically indented with the amount is entered. Do not haere manually no entry is required sect "No Entry for the account titles and enter for the amounts Round average per share amount to two decimal places) Acrount Titles and Explanation Debit Credit Date 2021 April 15 Retained Earnings 133000 13.3000 Dividends Payable (To record declaration of dividend.) May 1 No Entry 0 No Entry May 15 v Cash 557000 Common Shares 57000 (To record issue of shares.) May 31 Olvidends Payable 130000 103000 Cash (To record payment of dividend.) 16 Dec. 15 7 Retained Earning 13 Dividends ovable (To record declaration of dividend.) 2022 Jan 2 19 Oldendo vale Cach 05:42 (To record payment of dividend.) ) ENG 05-2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions