Skysong Mining Company declared, on April 20, a dividend of $594,000 payable on June 1. Of...

Transcribed Image Text:

Skysong Mining Company declared, on April 20, a dividend of $594,000 payable on June 1. Of this amount, $131,000 is a return of capital. Prepare the April 20 and June 1 entries for Skysong. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Apr. 20 Account Titles and Explanation I Debit Credit June 1 Skysong Mining Company declared, on April 20, a dividend of $594,000 payable on June 1. Of this amount, $131,000 is a return of capital. Prepare the April 20 and June 1 entries for Skysong. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Apr. 20 Account Titles and Explanation I Debit Credit June 1

Answer rating: 100% (QA)

April 20 Entry 1 Debit Dividends Payable Ordinary for 463000 2 Credit Cash for 463000 Explanation On ... View the full answer