Simpson Corporation has 300,000 shares of common stock issued and outstanding. On June 9, 202X, the board
Question:
Simpson Corporation has 300,000 shares of common stock issued and outstanding. On June 9, 202X, the board of directors declared a $0.52 per share dividend, payable on July 16, 202X, to stockholders of record on June 29,202X. Record the appropriate journal entries on June 9 and July 16.
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June 9 Retained Earning...View the full answer
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
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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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