On February 16, Hawthorne Company declares a $0.35 dividend to be paid on April 5. Hawthorne has 2,010,000 shares of common stock issued and outstanding. The entry recorded by the company on February 16 includes a debit to: Multiple Choice O O Dividends Payable and a credit to Cash for $703,500. Dividends and a credit to Dividends Payable for $703,500. Dividends Payable and a credit to Cash for $668,150. Dividends and a credit to Dividends Payable for $668,150
On February 16, Hawthorne Company declares a $0.35 dividend to be paid on April 5. Hawthorne has 2,010,000 shares of common stock issued and outstanding. The entry recorded by the company on February 16 includes a debit to: Multiple Choice O O Dividends Payable and a credit to Cash for $703,500. Dividends and a credit to Dividends Payable for $703,500. Dividends Payable and a credit to Cash for $668,150. Dividends and a credit to Dividends Payable for $668,150
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 11EA: Nutritious Pet Food Companys board of directors declares a cash dividend of $1.00 per common share...
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