On December 8 , 2 0 2 3 , the board of directors of Deep Onyx Mines Co declares a cash dividend after the first full year of successful operations at the mine in Sri Lanka This is the first cash dividend since the last cash dividend declared and paid in 2 0 2 0 to the owners of both the preferred and common stock The board decides to distribute all of the $ 1 8 , 5 0 0 , 0 0 0 of excess cash beyond the company's normal operating needs The dividend is payable on December 2 7 , 2 0 2 3 , to shareholders of record on December 2 2 , 2 0 2 3 Round any years for calculating the dividends in arrears on the preferred stock to the nearest year Be sure to calculate the amount due to Class A preferred stockholders, Class B convertible preferred stockholders, and common stockholders separately December 8 , 2 0 2 3 , journal entry ( 8 points ) Betained Famming 8 5 0 0 0 0 0 Why does the accountant need to move value from one equity account to another one December 2 2 , 2 0 2 3 , journal entry ( 4 points ) ( 1 8 , 5 0 0 , 0 0 0 3 7 3 0 0 8 0 0 ) ividend Declared 1 8 8 0 0 December 2 7 , 2 0 2 3 , journal entry ( 4 points ) NO Entry

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On December 8 , 2 0 2 3 , the board of directors of Deep Onyx Mines Co   declares a cash dividend after the first full year of successful operations at the mine in Sri Lanka  This is the first cash dividend since the last cash dividend declared and paid in 2 0 2 0 to the owners of both the preferred and common stock  The board decides to distribute all of the $ 1 8 , 5 0 0 , 0 0 0 of excess cash beyond the company's normal operating needs  The dividend is payable on December 2 7 , 2 0 2 3 , to shareholders of record on December 2 2 , 2 0 2 3   Round any years for calculating the dividends in arrears on the preferred stock to the nearest year  Be sure to calculate the amount due to Class A preferred stockholders, Class B convertible preferred stockholders, and common stockholders separately  December 8 , 2 0 2 3 , journal entry  ( 8 points ) Betained Famming 8 5 0 0 0 0 0 Why does the accountant need to move value from one equity account to another one  December 2 2 , 2 0 2 3 , journal entry  ( 4 points ) ( 1 8 , 5 0 0 , 0 0 0   3 7 3 0 0 8 0 0 ) ividend Declared 1 8 8 0 0 December 2 7 , 2 0 2 3 , journal entry  ( 4 points ) NO Entry

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Question: On December 8 , 2 0 2 3 , the board of directors of Deep Onyx Mines Co . declares a cash dividend after the

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