Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 11 - Reporting and Analyzing Stockholders' Equity - Questions: 15


Three days associated with Cash dividend are: a) May. 01 - Declaration date b) May.15 - Record Date c) May.31 - Payment Date

Work Step by Step

a) The date when Board of directors formally announces the cash dividend. The entry will be made as Cash Dividends Dividends Payable b) At this date, the company determines the ownership of the outstanding shares for dividend purpose. No Entry Made. c) The Company makes the payment of dividend to share holders. The entry will be made as underDividends Payable Cash
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