Exercise 12-11 Cash Dividends

Nogel Corporation secured authorization from the state for 200,000 shares of $10 par value common stock. It has 80,000 shares issued and 70,000 shares outstanding. On June 5, the board of directors declared a $0.25 per share cash dividend to be paid on June 25 to stockholders of record on June 15.

Record these events using T accounts.

Cash
		SelectJun. 5Jun. 25Item 1

Dividends Payable
SelectJun. 5Jun. 25Item 3		SelectJun. 5Jun. 25Item 5

Dividends
SelectJun. 5Jun. 25Item 7