Nutritious Pet Food Company's board of directors declares a cash dividend of $4,700 on June 30. At that time, there are 3,300 shares of $6 par value 4% preferred stock outstanding and 7,500 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. June 30 dropdown
Nutritious Pet Food Company's board of directors declares a cash dividend of $4,700 on June 30. At that time, there are 3,300 shares of $6 par value 4% preferred stock outstanding and 7,500 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. June 30 dropdown
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Nutritious Pet Food Company's board of directors declares a cash dividend of $4,700 on June 30. At that
time, there are 3,300 shares of $6 par value 4% preferred stock outstanding and 7,500 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.
June 30
dropdown](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb29fcb7c-5f79-48f0-b666-5ad6e8c46c14%2F5f7af70c-06c0-43a4-b944-ae8389801922%2Fkf6ggmi_processed.png&w=3840&q=75)
Transcribed Image Text:Nutritious Pet Food Company's board of directors declares a cash dividend of $4,700 on June 30. At that
time, there are 3,300 shares of $6 par value 4% preferred stock outstanding and 7,500 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.
June 30
dropdown
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