Some of the transactions of W. P. Ellsworth, Inc., during this fiscal year are as follows:...
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Some of the transactions of W. P. Ellsworth, Inc., during this fiscal year are as follows: Jan. 9 Declared a cash dividend of $73,000 ($3.65 per share on 20,000 shares, $20 par value) to stockholders of record as of January 31, payable on February 7. Paid the cash dividend. Feb. 7 Mar. 14 Apr. 14 21 Paid balance due on previous year's federal income tax, $15,180. Paid $23,230 for the first quarterly installment of estimated federal income tax for the year. The board of directors authorized the appropriation of Retained Earnings for contingencies, $15,000. Required: Record the above transactions in general journal form. Some of the transactions of W. P. Ellsworth, Inc., during this fiscal year are as follows: Jan. 9 Declared a cash dividend of $73,000 ($3.65 per share on 20,000 shares, $20 par value) to stockholders of record as of January 31, payable on February 7. Paid the cash dividend. Feb. 7 Mar. 14 Apr. 14 21 Paid balance due on previous year's federal income tax, $15,180. Paid $23,230 for the first quarterly installment of estimated federal income tax for the year. The board of directors authorized the appropriation of Retained Earnings for contingencies, $15,000. Required: Record the above transactions in general journal form.
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Based on the information provided here are the general journal entries to record the transactions of W P Ellsworth Inc 1 On February 7 the company declared a cash dividend of 73000 365 per share on 20... View the full answer
Related Book For
Intermediate Accounting
ISBN: 9781119790976
18th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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