Chapter 12 - Basic Exercises eBook Show Me How Calculator 1. BE. 12-01. ALGO Entries for Cash Dividends 2. BE. 12-02.ALGO The declaration, record, and payment dates in connection with a cash dividend of $86,000 on a corporation's common stock are October 1, November 7, and December 15. 3. BE. 12-03.ALGO 4. BE. 12-04. ALGO Journalize the entries required on each date. If no entry is required, choose "No entry required" and leave the amount boxes blank. Oct. 1 Cash Dividends Cash Dividends Payable 5. BE. 12-05 ALGO Nov. 7 No entry required No entry required Dec. 15 Cash Dividends Payable Cash Feedback Check My Work Are the dividends being paid on the same date that they are declared? Who would receive the dividends? What will the stockholders receive from the corporation? Learning Objective 3. Chapter 12 - Basic Exercises eBook Show Me How Calculator 1. BE. 12-01.ALGO Entries for Stock Dividends 2. BE.12-02.ALGO 3. BE. 12-03.ALGO 4. BE. 12-04. ALGO Madrid Corporation has 20,000 shares of $40 par common stock outstanding. On August 2, Madrid Corporation declared a 5% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $59 per share on August 2. Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required" and leave the amount boxes blank. Aug. 2 Stock Dividends Stock Dividends Distributable Paid-In Capital in Excess of Par-Common Stock 5. BE. 12-05. ALGO Sept. 15 No entry required No entry required Oct. 8 Stock Dividends Distributable Common Stock Feedback Check My Work Are the dividends being paid on the same date that they are declared? Who would receive the dividends? What will the stockholders receive from the corporation? Learning Objective 3