Bar Spruce Corp has 1.000.000 authorized shares of $25 par value common stock. As of June 30, 2020, there were 780,000 shares sued and outstanding On June 30, 2020, the board of directors declared a $0.50 per share cash dividend to be paid on August 1, 2020 Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment. no entry is required, select "No Entry for the account titles and enter O for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually No. Account Titles and Explanation (a) (b) (c) Debit Credit
Bar Spruce Corp has 1.000.000 authorized shares of $25 par value common stock. As of June 30, 2020, there were 780,000 shares sued and outstanding On June 30, 2020, the board of directors declared a $0.50 per share cash dividend to be paid on August 1, 2020 Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment. no entry is required, select "No Entry for the account titles and enter O for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually No. Account Titles and Explanation (a) (b) (c) Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Blue Spruce Corps has 1,000,000 authorized shares of $25 par value common stock. As of June 30, 2020, there were 780,000 shares
Issued and outstanding On June 30, 2020, the board of directors declared a $0.50 per share cash dividend to be paid on August 1,
2020
Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment.
(If no entry is required, select "No Entry" for the account titles and enter O for the amounts, Credit account titles are automatically indented
when the amount is entered. Do not indent manually)
No. Account Titles and Explanati
(a)
(b)
(c)
Debit
Credit
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