The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1
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Question:
The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares authorized, 20,000 shares issued, and 5,000 shares held as treasury stock. What is the entry for the dividend declaration?
| Dividends | 9000 |
|
a. | Dividends payable |
| 9000 |
| Dividends | 9000 |
|
b. | Cash |
| 9000 |
| Dividends | 10,000 |
|
c. | Dividends payable |
| 10,000 |
| Dividend | 10,000 |
|
d. | cash |
| 10,000 |
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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