On October 1, 2016, Nicholes Corporation declared a $50,000 cash dividend to be paid on December 15
Question:
On October 1, 2016, Nicholes Corporation declared a $50,000 cash dividend to be paid on December 15 to shareholders of record on November 1.
Required
a. Record the events occurring on October 1, November 1, and December 15 in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA).
b. Prepare journal entries for all events associated with the dividend.
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... 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...
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Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
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