Steverson Air Conditioning Inc had net income of 210 000 for
Steverson Air Conditioning, Inc., had net income of $210,000 for the year ended December 31, 2009. On January 15, 2010, the board of directors met and declared a dividend of $0.15 per share for each of the 200,000 outstanding shares of common stock. The board voted to make the actual distribution on April 1 to all shareholders of record as of March 1. What is
(a) The date of declaration,
(b) The date of record,
(c) The date of payment?
If Steverson Air were to prepare a balance sheet on January 31, 2010, how would the dividends be reported (if at all)?

Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help