Question
On June 1, 2023, the Board of Directors decided to declare a dividend of $100,000 to the shareholders of record as of June 9, 2023.
On June 1, 2023, the Board of Directors decided to declare a dividend of $100,000 to the shareholders of record as of June 9, 2023. The payment of the dividend was made June 15, 2023.
Required:
1. What is the name of each of the above 3 dates?
2. Prepare the above journal entires including the closing entry on December 31, 2023, the year-end of the company.
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Survey of Accounting
Authors: Carl S Warren
5th Edition
9780538489737, 538749091, 538489731, 978-0538749091
