On March 1, the board of directors declared a cash dividend of $0.70 per common share to
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On March 1, the board of directors declared a cash dividend of $0.70 per common share to shareholders of record on March 10, payable March 31. There were 127,000 shares issued and outstanding on March 1 and no additional shares had been issued during the month. Record the entries for March 1, 10, and 31.
DividendA dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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March 1 Cash Dividends or Retained Earnings 88900 ...View the full answer
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Related Book For 
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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