Question
On July 30, 2020, Lee Inc's board of directors declared a $2 per share cash dividend. The record date was 8/15/20, the ex-dividend date was
On July 30, 2020, Lee Inc's board of directors declared a $2 per share cash dividend. The record date was 8/15/20, the ex-dividend date was 8/14/20, and the payment date was 9/3/20. Assume the company had 400 shares authorized, 293 shares issues, and 200 shares outstanding.
Record Journal Entry when the dividend was paid to shareholders of record. Select all that apply:
Dr. Dividends common 400
Dr. Dividends payable 400
Cr. Cash 400
Cr. Dividends common 400
Cr Dividends payable 400
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Survey of Accounting
Authors: Carl S Warren
6th edition
978-113318912, 1133189121, 978-1133189121
