A company with 2,000,000 outstanding shares of stock declared a $0.10 per share dividend on July 10.

Question:

A company with 2,000,000 outstanding shares of stock declared a $0.10 per share on July 10. The is payable on July 31 to stockholders of record on July 17.
Required
Prepare the entries that the company would make on the date of declaration and payment date. What is the total effect of both entries on total stockholders' equity? Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...