QS 13-6 Accounting for cash dividends LO P2

July		15		Declared a cash dividend payable to common stockholders of $161,000.
Aug.		15		Date of record is August 15 for the cash dividend declared on July 15.
Aug.		31		Paid the dividend declared on July 15.

Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet

Record the declaration of a cash dividend payable to common stockholders.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jul 15

Journal entry worksheet

Record the date of record for the cash dividend.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Aug 15

Journal entry worksheet

Record the payment of cash dividend.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Aug 31

Problem 13-3A Equity analysis-journal entries and account balances LO P2

At September 30, the end of Beijing Companys third quarter, the following stockholders equity accounts are reported.

Common stock, $14 par value	$	480,000
Paid-in capital in excess of par value, common stock		120,000
Retained earnings		340,000

In the fourth quarter, the following entries related to its equity are recorded:

Date	General Journal	Debit	Credit
Oct. 2	Retained Earnings	60,000
	Common Dividend Payable		60,000
Oct. 25	Common Dividend Payable	60,000
	Cash		60,000
Oct. 31	Retained Earnings	67,000
	Common Stock Dividend Distributable		32,000
	Paid-In Capital in Excess of Par Value, Common Stock		35,000
Nov. 5	Common Stock Dividend Distributable	32,000
	Common Stock, $14 Par Value		32,000
Dec. 1	MemoChange the title of the common stock
	account to reflect the new par value of $4.
Dec. 31	Income Summary	300,000
	Retained Earnings		300,000

Required: 2. Complete the following table showing the equity account balances at each indicated date.

	Oct. 2	Oct. 25	Oct. 31	Nov. 5	Dec. 1	Dec.31
Common stock
Common stock dividend distributable
Paid-in capital in excess of par, Common stock
Retained earnings
Total equity	$0	$0	$0	$0	$0	$0