This memorandum contains data about the first quarter dividend on the common stock of Rob Williams Thrift
Question:
This memorandum contains data about the first quarter dividend on the common stock of Rob Williams Thrift Market Inc.
Instructions
Prepare the journal entries to record the following in your working papers. Use general journal page 18.
• Declaration of the dividend
• Payment of the dividend, Check 221
Transcribed Image Text:
Rob Williams Thrift Market Inc. 2347 Eastern Parkway Orange, IA 50322-6922 MEMORANDUM 37 TO: Chief Financial Officer FROM: Albert MacFish, Chairman of the Board DATE: April 8, 20-- SUBJECT: 1st quarter dividend On April 1, 20--, the board of directors declared a $1 per share dividend on the 5,679 shares of common stock issued. The date of record is April 15, 20--. The date of payment is April 30, 20--.
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Journal Entry for the Declaration of Dividend Date April 1 20 Particulars Debit Cred...View the full answer
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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