Concord Corporation has 11 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 83 cents per share cash dividend to stockholders of record as of June 14, payable June 30. A (a) Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit
Concord Corporation has 11 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 83 cents per share cash dividend to stockholders of record as of June 14, payable June 30. A (a) Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
am. 94.
Transcribed Image Text:Concord Corporation has 11 million shares of common stock issued and outstanding. On June 1, the board of directors voted
an 83 cents per share cash dividend to stockholders of record as of June 14, payable June 30.
(a)
Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings. (List all debit
entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem
statement.)
Date
01
<
Account Titles and Explanation
eTextbook and Media
List of Accounts
CAR
20
Debit
NAP
2
20
Credit
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