The declaration, record, and payment dates in connection with a cash dividend of $516,000 on a corporation's common stock are February 28, April 1, and May 15. Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.

Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter11: Accounting For Transactions Using A General Journal
Section11.3: Accounting For The Declaration And Payment Of A Dividend
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### Entries for Cash Dividends

#### Instructions

The declaration, record, and payment dates in connection with a cash dividend of $516,000 on a corporation’s [common stock](#) are February 28, April 1, and May 15.

Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.

#### Journal

Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.

| DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | ASSETS | LIABILITIES | EQUITY |
|------|--------------|------------|-------|--------|--------|-------------|--------|
|      |              |            |       |        |        |             |        |
|      |              |            |       |        |        |             |        |
|      |              |            |       |        |        |             |        |
|      |              |            |       |        |        |             |        |
|------|--------------|------------|-------|--------|--------|-------------|--------|
| PAGE 10            |            |       |        |        |             |        |

This educational exercise is designed to help you understand the process of journalizing cash dividends and the impact of these transactions on the accounting equation. Please ensure you refer to the Chart of Accounts for the proper account titles when making entries.
Transcribed Image Text:### Entries for Cash Dividends #### Instructions The declaration, record, and payment dates in connection with a cash dividend of $516,000 on a corporation’s [common stock](#) are February 28, April 1, and May 15. Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. #### Journal Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. | DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | ASSETS | LIABILITIES | EQUITY | |------|--------------|------------|-------|--------|--------|-------------|--------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |------|--------------|------------|-------|--------|--------|-------------|--------| | PAGE 10 | | | | | | | This educational exercise is designed to help you understand the process of journalizing cash dividends and the impact of these transactions on the accounting equation. Please ensure you refer to the Chart of Accounts for the proper account titles when making entries.
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