July 15 Declared a cash dividend payable to common stockholders of $171,000. Aug

Question

July 15 Declared a cash dividend payable to common stockholders of $171,000. 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. Prepare journal entries to record the above transactions for Emerson Corporation. (If no journal entry is required, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 Record the declaration of a cash dividend payable to common stockholders. Note: Enter debits before credits. General Journal Debit Credit Date Jul 15 Record entry Clear entry View general Journal

Explanation / Answer

Date Account Debit credit july15 cash dividend /Retained earning 171000 cash dividend payable 171000 [dividend declared] Aug15 No entry on record date Aug31 cash dividend payable 171000 cash 171000 [Dividend paid]

Related Questions

Navigate

• Browse (All)
• Browse J
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.