E Calculator E Print Item Nutritious Pet Food Company's board of directors declares a cash dividend of ș5,100 on June 30. At that time, there are 3,500 shares of $8 par value 5% preferred stock outstanding and 7,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend? If an amount box does not require an entry, leave it blank.

E Calculator E Print Item Nutritious Pet Food Company's board of directors declares a cash dividend of ș5,100 on June 30. At that time, there are 3,500 shares of $8 par value 5% preferred stock outstanding and 7,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend? If an amount box does not require an entry, leave it blank.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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eBook Show Me How Calculator Print Item Entries for stock dividends Instructions Chart of Accounts Journal Instructions Pro-Builders Corporation has 265,500 shares of $30 par common stock outstanding. On September 2, Pro-Builders Corporation declared a 1% stock dividend to be issued November 30 to stockholders of record on October 3. The market price of the stock was $50 per share on September 2. Journalize the entries required on September 2, October 3, and November 30. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account tides. Next Previous 2 more Check My Work uses remaining. Check My Work 10:5
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