Mortimer Inc. declared a cash dividend of $0.60 per share on its 1.5 million outstanding shares. The dividend was declared on August 1 and is payable on September 9 to all shareholders of record on August 15. Prepare all necessary journal entries for those three dates.
Answer to relevant QuestionsVermue Corporation was organized on January 1, 2012. It is authorized to issue 100,000 preferred shares with a $7 dividend, and 400,000 common shares. The following share transactions were completed during the first year: ...Falkon Corp. reported the following amounts in the shareholders’ equity section of its December 31, 2011 balance sheet: Preferred shares, $8 dividend (10,000 shares authorized, 2,000 shares issued) ...Kunzig Corporation is authorized to issue 500,000 common shares. During 2012, the company took part in the following selected transactions. 1. Issued 6,000 common shares at $30 per share, less $2,000 in costs related to the ...Bablon Corp. has 5,000 preferred shares outstanding (no par value, $2 dividend), which were issued for $150,000, and 30,000 shares of no par value common, which were issued for $550,000. Instructions The following schedule ...Transactions of Kettle Corporation are as follows. 1. The company is granted a charter that authorizes the issuance of 150,000 preferred shares and 150,000 common shares without par value. 2. The founders of the ...
Post your question