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Divine Apparel has 3,800 shares of common stock outstanding. On October 1, the company declares a $0.25 per share dividend to stockholders of record on October 15. The dividend is paid on October 31.     Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Divine Apparel has 3,800 shares of common stock outstanding. On October 1, the company declares a $0.25 per share dividend to stockholders of record on October 15. The dividend is paid on October 31.     Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 11EA: Nutritious Pet Food Companys board of directors declares a cash dividend of $1.00 per common share...
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Brief Exercise 10-12 (Algo) Record cash dividends (LO10-5)

Divine Apparel has 3,800 shares of common stock outstanding. On October 1, the company declares a $0.25 per share dividend to stockholders of record on October 15. The dividend is paid on October 31.

   
Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

 

 
 
  • 1
    Record the declaration of cash dividends.
     
  • 2
    Record the entry on the date of record.
     
  • 3
    Record the payment of cash dividends.
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