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On April 1, a company declared a cash dividend of $0.13 per common share to the shareholders of record on April 15. The cash dividend will be paid on April 30. This company has 313,000 shares authorized and 39,000 shares outstanding. Prepare the journal entries required on April 1, April 15, and April 30.

On April 1, a company declared a cash dividend of $0.13 per common share to the shareholders of record on April 15. The cash dividend will be paid on April 30. This company has 313,000 shares authorized and 39,000 shares outstanding. Prepare the journal entries required on April 1, April 15, and April 30.

FINANCIAL ACCOUNTING
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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On April 1, a company declared a cash dividend of $0.13 per common share to the shareholders of record on April 15. The cash dividend will be paid on April 30. This company has 313,000 shares authorized and 39,000 shares outstanding. Prepare the journal entries required on April 1, April 15, and April 30.
Transcribed Image Text:On April 1, a company declared a cash dividend of $0.13 per common share to the shareholders of record on April 15. The cash dividend will be paid on April 30. This company has 313,000 shares authorized and 39,000 shares outstanding. Prepare the journal entries required on April 1, April 15, and April 30.
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