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Journalize for frenchvanilla the entry declaring the cash

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Question - Frenchvanilla Company earned net income of $92,000 during the year ended December 31, 2018. On December 15, Frenchvanilla declared the annual cash dividend on its 5% preferred stock (par value, $130,000) and a $0.50 per share cash dividend on its common stock (55,000 shares). Frenchvanilla then paid the dividends on January 4, 2019.

Read the requirements -

1. Journalize for Frenchvanilla the entry declaring the cash dividends on December 15, 2018.

2. Journalize for Frenchvanilla the entry paying the cash dividends on January 4, 2019.

Reference no: EM132612149

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