PA$11-2($Algo$)$ Recording Cash Dividends $[$LO $11-3]$

Hungler Corporation produces chocolate bars and snacks under the brand names Blast and Soothe. A press release contained the following information:

March $5$Hungler Corporation today announced that its Board of Directors has declared a special $$one$-$time$$ cash dividend of $$0\mathrm{.}90$ per share on its $105,000$ outstanding common shares. The dividend will be paid on April $29$ to shareholders of record at the close of business on March $26.$ The Company$$s fiscal year will end April $30.$

Required:

$1.$ Prepare any journal entries that Hungler 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?$4$

$25$

points

$02*54$:$38$

PA$11-2($Algo$)$ Recording Cash Dividends $[$LO $11-3]$

Hungler Corporation produces chocolate bars and snacks under the brand names Blast and Soothe. A press release contained the following information:

March $5-$Hungler Corporation today announced that its Board of Directors has declared a special "one$-$time" cash dividend of $$0\mathrm{.}90$ per share on its $105,000$ outstanding common shares. The dividend will be paid on April $29$ to shareholders of record at the close of business on March $26.$ The Company's fiscal year will end April $30.$

Required:

Prepare any journal entries that Hungler Corporation should make on the four dates mentioned in the press release.

What would the board of directors have considered before making the dividend decisions?

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Prepare any journal entries that Hungler Corporation should make on the four dates mentioned in the press release. $($If no entry is required for a transaction$/$date$,$ select $"$No Journal Entry Required" in the first account field.$)$

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Journal entry worksheet

$1$

$2$

$3$

$4$

Record the declaration of a cash dividend of $$0\mathrm{.}90$ per share payable on the $105,000$ shares of common stock outstanding.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$March $05,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Record entry

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