Question

King Tut Corporation has issued 25,000 shares of common stock, all of the same class; 18,000 shares are outstanding and 7,000 shares are held as treasury stock. On December 1, 2011, King Tut’s board of directors declares a cash dividend of $0.75 per share payable on December 15, 2011, to stockholders of record on December 10, 2011.

Required:
Prepare the appropriate journal entries for the date of declaration, date of record, and date of payment.


$1.99
Sales3
Views104
Comments0
  • CreatedSeptember 22, 2015
  • Files Included
Post your question
5000