On October 1, 2011, Smart Corporation declared a $60,000 cash dividend to be paid on

December 30 to shareholders of record on November 20.

Required

Record the events occurring on October 1, November 20, and December 30 in a horizontal

statements model like the following one.

In the Cash flow column. Indicate whether the item

is an operating activity (OA), investing activity (IA), or financing activity (FA).

Date

Assets = liab. + Com. Stock = Ret. carn.

Rev. - Exp. = Net Inc.

Cash Flow

b. Prepare journal entries for all events associated with the dividend