Larkspur Service Corporation has 820,000 authorized shares of $20 par value common stock. As of June...

 

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Larkspur Service Corporation has 820,000 authorized shares of $20 par value common stock. As of June 30, 2025, there were 492,000 shares issued and outstanding. On June 30, 2025, the board of directors declared a $0.50 per share cash dividend to be paid on August 1, 2025. Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Larkspur Service Corporation has 820,000 authorized shares of $20 par value common stock. As of June 30, 2025, there were 492,000 shares issued and outstanding. On June 30, 2025, the board of directors declared a $0.50 per share cash dividend to be paid on August 1, 2025. Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)

Answer rating: 100% (QA)

Here are the journal entries for Larkspur Service Corporation a Date of Declaration June 30 2025 Thi... View the full answer