Question: This exercise continues the Lawlor Lawn Service, Inc., situation from Exercise 11-33 of Chapter 11. On September 18, Lawlor Lawn Service declared a dividend of

This exercise continues the Lawlor Lawn Service, Inc., situation from Exercise 11-33 of Chapter 11. On September 18, Lawlor Lawn Service declared a dividend of $2,000 to all common shareholders of record on September 23 to be paid on October 1.

Requirements

1. Journalize the entries related to the dividends.

2. On September 30, on what financial statement would the dividend balance appear? Why?

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