Tubbs Inc. has 25,000 shares of $1 par-value common stock outstanding. On March 1, the company declares

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Tubbs Inc. has 25,000 shares of $1 par-value common stock outstanding. On March 1, the company declares a $1.25 per share dividend to stockholders on record on March 15. On March 25, Tubbs Inc. paid the $1.25 per share dividend.

What will be the journal entry when Tubbs Inc. records the transaction on March 1?

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Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Posted Date: Apr 08, 2023 03:21 AM

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Tubbs Inc. has 25,000 shares of $1 par-value common stock outstanding. On March 1, the company declares

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The declaration of the dividend on March 1 will result in a liability for the company until ... View the full answer

Accounting Principles

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