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On April 20, Raule Mining Corp. declared a dividend of $400,000 that is payable on June 1. Of this amount,

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On April 20, Raule Mining Corp. declared a dividend of $400,000 that is payable on June 1. Of this amount, $150,000 is a return of capital. Raule had no contributed surplus on April 20. Prepare the April 20 and June 1 journal entries for Raule.

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To prepare the journal entries for Raule Mining Corp on April 20 and June 1 for the dividend declara…View the full answer


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Related Book For  answer-question
Intermediate Accounting

Intermediate Accounting

ISBN: 978-1119048541

11th Canadian edition Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

See More Books
Question Details
Chapter # 3
Section: Brief Exercises
Problem: 13
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Question Posted: September 02, 2023 11:07:10
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