Delta Motors Corporation has 2,000,000 authorized shares of $10 par value common stock. As of June 30, 2011, there were 1,000,000 shares issud and outstanding. On June 30, 2011, the board of directors declared a $0.20 per share cash dividend to be paid on August 1, 2011, to shareholders of record on July 15,2011. Prepare entries in journal form to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment.
Delta Motors Corporation has 2,000,000 authorized shares of $10 par value common stock. As of June 30, 2011, there were 1,000,000 shares issud and outstanding. On June 30, 2011, the board of directors declared a $0.20 per share cash dividend to be paid on August 1, 2011, to shareholders of record on July 15,2011. Prepare entries in journal form to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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Delta Motors Corporation has 2,000,000 authorized shares of $10 par value common stock. As of June 30, 2011, there were 1,000,000 shares issud and outstanding. On June 30, 2011, the board of directors declared a $0.20 per share cash dividend to be paid on August 1, 2011, to shareholders of record on July 15,2011. Prepare entries in journal form to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment.
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