Homework for chapter 7: Posting transactions based on [1] Declaration; [2] Date of record; [3] Payment of Dividend] Question 1: Declaration : Board of director declared dividend. Company showed the net income $850,000, and outstanding common share 1,500,000 shares Step 1: Calculate the EPS Step 2: Calculate the amount of dividend Step 3: Posting the entries Question 2: Date of Record Did you require to post this entry? Yes or No Question 3: Payment of Dividend (Based on transaction 1 to post this entry) Question 4: Investment of security with fair market value $560,000, the original cost of this investment $432,000. Post this entry to determine the Additional Paid In Capital