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National Chocolate Corporation produces chocolate bars and snacks under the brand names Blast and Soothe. A press release contained the following information: March 5-National Chocolate
National Chocolate Corporation produces chocolate bars and snacks under the brand names Blast and Soothe. A press release contained the following information: March 5-National Chocolate Corporation today announced that its Board of Directors has declared a special "one-time" casi dividend of $1 per share on its 100,000 outstanding common shares. The dividend will be paid on April 29 to shareholders of record the close of business on March 26. The Company's fiscal year will end April 30 . Required: 1. Prepare any journal entries that National Chocolate Corporation should make on the four dates mentioned in the press release 2. What would the board of directors have considered before making the dividend decisions? 1. Prepare any journal entries that National Chocolate Corporation should make on the four dates mentioned in the press releas 2. What would the board of directors have considered before making the dividend decisions? Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare any journal entries that National Chocolate Corporation should make on the four dates mentioned in the press release. (If no entry is required for a transaction/date, select "No Journai Entry Required" in the first account field.)
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