On March 15, 2011, the board of directors of Everyman Corporation declared a cash dividend, payable July

Question:

On March 15, 2011, the board of directors of Everyman Corporation declared a cash dividend, payable July 10, 2011, of $0.30 per share on the 120,000 common shares outstanding. The accounting period ends June 30.

How will this be reflected on the balance sheet at June 30, 2011?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...