On April 20, Raule Mining Corp. declared a dividend of $400,000 that is payable on June 1.

Question:

On April 20, Raule Mining Corp. declared a of $400,000 that is payable on June 1. Of this amount, $150,000 is a return of capital. Prepare the April 20 and June 1 journal entries for Raule.
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...