Lotoya Davis Corporation has ten million shares of common stock issued and outstanding On June 1 the board of directors voted an 80 cents per share cash dividend to stockholders of record as of June 14, payable June 30 Instructions (a) Prepare the journal entry for each of the dates above assuming ...

a 61 Retained Earnings 8000000 Dividends Payable 8000000 614 ...

Lotoya Davis Corporation has ten million shares of common stock issued and outstanding. On June 1 the

Question:

Lotoya Davis has ten million shares of issued and outstanding. On June 1 the board of directors voted an 80 cents per share cash to stockholders of record as of June 14, payable June 30.

Instructions
(a) Prepare the journal entry for each of the dates above assuming the represents a of earnings.
(b) How would the entry differ if the were a liquidating Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
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The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Dividend
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