QS 13-6 Accounting for cash dividends LO P2 Prepare journal entries to record th

Question

QS 13-6 Accounting for cash dividends LO P2

Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
  

Journal entry worksheet

Record the declaration of a cash dividend payable to common stockholders.

Note: Enter debits before credits.

Journal entry worksheet

Record the date of record for the cash dividend.

Note: Enter debits before credits.

Journal entry worksheet

Record the payment of cash dividend.

Note: Enter debits before credits.

Problem 13-3A Equity analysis-journal entries and account balances LO P2

At September 30, the end of Beijing Company’s third quarter, the following stockholders’ equity accounts are reported.

In the fourth quarter, the following entries related to its equity are recorded:

Required:
2. Complete the following table showing the equity account balances at each indicated date.

July 15 Declared a cash dividend payable to common stockholders of $161,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the dividend declared on July 15.

Explanation / Answer

Answer:-13-6:-

Answer-(13-13A):-

Date General Journal Debit Credit $ $ Jul-15 Retained earnings 161000          Common dividend payable 161000 (Being dividend declared) Aug-15 No journal entry required Aug-31 Common dividend payable 161000                 Cash 161000 (Being dividend paid)

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