Stanley Black & Decker is a leading global manufacturer and marketer of power tools, hardware, and home

Question:

Stanley Black & Decker is a leading global manufacturer and marketer of power tools, hardware, and home improvement products. A press release contained the following announcement:
NEW BRITAIN, Conn.—(BUSINESS WIRE) — Feb. 18, 2014— Stanley Black & Decker (NYSE: SWK) announced today that its Board of Directors approved a regular first-quarter cash of $ 0.50 per common share. This extends the company’s record for the longest consecutive annual and quarterly payments among industrial companies listed on the New York Stock Exchange. The is payable on Tuesday, March 18, 2014, to shareholders of record as of the close of business on Wednesday, March 5, 2014.
At the time of the press release, the company had 300 million shares authorized and 155 million outstanding. The for the company’s stock is $ 2.50 per share.
Required:
1. Prepare journal entries as appropriate for each of the three dates mentioned above.
2. Assuming no other dividends were declared during the year, prepare the closing entry.
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... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...