On June 20, 2010, the board of directors of Henk Company declared a $ 164,000 dividend for its common shareholders The date of payment for the dividend is July 15, 2010, to shareholders of record on June 30, 2010 Record all the appropriate journal entries ...

62010 Retained Earnings 1640 ...

On June 20, 2010, the board of directors of Henk Company declared a $ 164,000 dividend for

Question:

On June 20, 2010, the board of directors of Henk Company declared a $ 164,000 for its common shareholders. The date of payment for the is July 15, 2010, to shareholders of record on June 30, 2010. Record all the appropriate journal entries.
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...