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Fowler Co.'s balance sheet showed the following at December 31, 2018: Common stock, $10 par $ 114,000 Paid-in capital - excess of par 57,000 Retained
Fowler Co.'s balance sheet showed the following at December 31, 2018:
Common stock, $10 par | $ | 114,000 | |
Paid-in capital - excess of par | 57,000 | ||
Retained earnings | 22,800 | ||
A cash dividend is declared on December 31, 2018, and is payable on January 20, 2019, to shareholders of record on January 10, 2019. Required: 1.
- Record cash dividend declared on December 31, 2018.
- Record the entry on date of record.
- Record payment of cash dividend
2.
- Record cash dividend declared on December 31, 2018.
- Record the entry on date of record.
- Record payment of cash dividend.
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