Question
The equity section of Toowong Ltd at 31 December 2019 included the following: 500,000 ordinary shares issued and outstanding .................................. $2,000,000 On 1 November 2019,
The equity section of Toowong Ltd at 31 December 2019 included the following: 500,000 ordinary shares issued and outstanding .................................. $2,000,000 On 1 November 2019, the board of directors declared a $0.3 per share dividend on the ordinary shares, payable 30 November 2019 to shareholders of record on 15 November 2019. Required: Prepare the journal entries that should be made by Toowong Ltd. on the dates indicated below: (A) 1 November 2019 (B) 15 November 2019 (C) 30 November 2019 Note that narrations are not required for journal entries.
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