Nutritious Pet Food Company's board of directors declares a cashd 2,400 shares are held as treasury shares. What is the journal entry to record the declaration of this dividend?
Nutritious Pet Food Company's board of directors declares a cashd 2,400 shares are held as treasury shares. What is the journal entry to record the declaration of this dividend?
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 2.1C
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Nutritious Pet Food Company's board of directors declares a cash dividend of $1.00 per common share on November 12. On this date, the company has issued 14,000 shares but
2,400 shares are held as treasury shares.
What is the journal entry to record the declaration of this dividend? If an amount box does not reguire an entry, leave it blank.
Nov. 12
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Nutritious Pet Food Company's board of directors declares a cash di
2,400 shares are held as treasury shares.
What is the journal entry to record the declaration of this dividend?
Nov. 12
Cash Dividends Payable
Cash
Common Stock
Office Equipment
Retained Earnings
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