Question
Entries for cash dividends The declaration, record, and payment dates in connection with a cash dividend of $58,200 on a corporation's common stock are July
Entries for cash dividends
The declaration, record, and payment dates in connection with a cash dividend of $58,200 on a corporation's common stock are July 9, August 31, and October 1.
Journalize the entries required on each date. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.
| Date | Account | Debit | Credit |
|---|---|---|---|
| July 9 | CashCash DividendsCash Dividends PayableCommon StockNo Entry RequiredCash Dividends | Cash Dividends | Cash Dividends |
| CashCash DividendsCash Dividends PayableCommon StockNo Entry RequiredCash Dividends Payable | Cash Dividends Payable | Cash Dividends Payable | |
| Aug. 31 | CashCash DividendsCash Dividends PayableCommon StockNo Entry RequiredNo Entry Required | No Entry Required | No Entry Required |
| CashCash DividendsCash Dividends PayableCommon StockNo Entry RequiredNo Entry Required | No Entry Required | No Entry Required | |
| Oct. 1 | CashCash DividendsCash Dividends PayableCommon StockNo Entry RequiredCash Dividends Payable | Cash Dividends Payable | Cash Dividends Payable |
| CashCash DividendsCash Dividends PayableCommon StockNo Entry RequiredCash | Cash | Cash |
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Financial Statements Analysis Cases From Corporate India
Authors: Sandeep Goel
1st Edition
1138663921, 9781138663923
