Develop Window Help 85%-, Wed Nov 29 8:42 AM E edugen.wileyplus.com Kimmel, Fina

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Develop Window Help 85%-, Wed Nov 29 8:42 AM E edugen.wileyplus.com Kimmel, Financial Accounting, Se Brief Exercise 11-5 Your answer is partially correct. Try again. r2 Riverbed Corp has 8,400 shares of common stock outstanding. It declares a $5 per share cash dvidend on November 1 to stoekholders of record on December 1. The dividend is paid on December 31 Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Credit account eitles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. It no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Oate Account Titles and Explanation x Study Question Attempts: 2 of , used uur-LATER version 4.242.4

Explanation / Answer

Brief ex 11-5 Date Account titles & Explanations Debit Credit 1-Nov Retained earnings/cash dividend 42,000 Dividends payable 42,000 Ex 11-1 a) 1-Jul Cash (58,000*7) 406000 Common stock (58000*6) 348000 paid in capital in excess of par value 58,000 b) 10-Jan Cash (26,600*6) 159600 common stock (26600*1) 26,600 paid in capital in excess of stated value 133000 1-Jul Cash (58,000*7) 406000 Common stock (58000*1) 58,000 paid in capital in excess of stated value 348,000

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