On June 30, the board of directors of Dive Inn, Inc., declared a cash dividend of $0.20 per share on its $2 par value, 100,000 common shares outstanding. The date of record is the close of business on July 7, payable July 31. The entry to record the declaration of the dividend on June 30 includes ______. (Select all that apply.) debit Dividends $200,000 There is no entry made on June 30. debit Dividends Payable $20,000 credit Dividends Payable $2,000 credit Cash $200,000 debit Dividends $20,000 credit Dividends Payable $20,00
On June 30, the board of directors of Dive Inn, Inc., declared a cash dividend of $0.20 per share on its $2 par value, 100,000 common shares outstanding. The date of record is the close of business on July 7, payable July 31. The entry to record the declaration of the dividend on June 30 includes ______. (Select all that apply.) debit Dividends $200,000 There is no entry made on June 30. debit Dividends Payable $20,000 credit Dividends Payable $2,000 credit Cash $200,000 debit Dividends $20,000 credit Dividends Payable $20,00
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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On June 30, the board of directors of Dive Inn, Inc., declared a cash dividend of $0.20 per share on its $2 par value, 100,000 common shares outstanding. The date of record is the close of business on July 7, payable July 31. The entry to record the declaration of the dividend on June 30 includes ______. (Select all that apply.)
debit Dividends $200,000
There is no entry made on June 30.
debit Dividends Payable $20,000
credit Dividends Payable $2,000
credit Cash $200,000
debit Dividends $20,000
credit Dividends Payable $20,000
credit Cash $20,000
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