Selected transactions of Joseph Corporation during 2019 follow. DATE TRANSACTIONS Mar. 15 Filed the federal income tax return for 2018. The total tax for the year was $133,300. During 2018, quarterly deposits of estimated tax totaling $127,000 had been made. The additional tax of $6,300 was paid with the return. On December 31, 2018, the accountant had estimated the total tax for 2018 to be $131,300 and had recorded a liability of $4,300 for federal income tax payable. Apr. 15 Paid first quarterly installment of $39,000 on 2019 estimated federal income tax. May 3 Declared dividend of $0.20 per share on the 47,000 shares of common stock outstanding. The dividend is payable on June 2 to stockholders of record as of May 20, 2019. June 2 Paid dividend declared on May 3. 15 Paid second quarterly installment of $39,000 on 2019 estimated federal income tax. Sept. 15 Paid third quarterly installment of $39,000 on 2019 estimated federal income tax. Nov. 2 Declared dividend of $0.20 per share on 47,000 shares of common stock outstanding. The dividend is payable on December 2 to holders of record on November 20. Dec. 2 Paid dividend declared on November 2. 15 Paid fourth quarterly installment of $39,000 on 2019 estimated income tax. 31 Total income tax for 2019 was $157,010. Record as an adjustment the difference between this amount and the total quarterly deposits. Record the above transactions in general Journal. Analyze: What annual per share dividend was paid to common stockholders in 2019? Journal entry worksheet Record the payment of dividends on June 2. Note: Enter debits before credits. Date General Journal Debit Credit Jun 02, 2019 1 2 3 4 5 6 7 8 12 Record the second quarterly installment of taxes. Note: Enter debits before credits. Date General Journal Debit Credit Jun 15, 2019 Journal entry worksheet 1 8 12 Record the third quarterly installment of taxes. Note: Enter debits before credits. General Journal Debit Credit Date Sep 15, 2019 Record the payment of dividends on Dec 02. Note: Enter debits before credits. Date General Journal Debit Credit Dec 02, 2019 Record the payment of dividends on June 2. Note: Enter debits before credits. Date General Journal Debit Credit Jun 02, 2019 1 2 3 4 5 6 7 8 12 Record the second quarterly installment of taxes. Note: Enter debits before credits. Date General Journal Debit Credit Jun 15, 2019 Journal entry worksheet 1 8 12 Record the third quarterly installment of taxes. Note: Enter debits before credits. General Journal Debit Credit Date Sep 15, 2019 Record the payment of dividends on Dec 02. Note: Enter debits before credits. Date General Journal Debit Credit Dec 02, 2019
