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On March 15, Summit Hawk declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockholders of record on March 30. Required: Record Summit Hawk's declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. $5.5 million should be entered as 5,500,000).)

On March 15, Summit Hawk declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockholders of record on March 30. Required: Record Summit Hawk's declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. $5.5 million should be entered as 5,500,000).)

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings
Section: Chapter Questions
Problem 4MC
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On March 15, Summit Hawk declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockholders of record on March 30.


Required:
Record Summit Hawk's declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. $5.5 million should be entered as 5,500,000).)

 

Journal entry worksheet 1 2 3 > Record the entry on the date of record. Note: Enter debits before credits. Date General Journal Debit Credit March 30 Record entry Clear entry View general journal
Transcribed Image Text:Journal entry worksheet 1 2 3 > Record the entry on the date of record. Note: Enter debits before credits. Date General Journal Debit Credit March 30 Record entry Clear entry View general journal
Journal entry worksheet 1 2 > Record the declaration of cash dividends. Note: Enter debits before credits. Date General Journal Debit Credit March 15 Record entry Clear entry View general journal
Transcribed Image Text:Journal entry worksheet 1 2 > Record the declaration of cash dividends. Note: Enter debits before credits. Date General Journal Debit Credit March 15 Record entry Clear entry View general journal
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