Lupinski distributors has 1000000 shares of common stock

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Reference no: EM13600444

Lupinski Distributors has 1,000,000 shares of common stock outstanding. On January 11 of the current year, Lupinski declared a cash dividend of $0.20 per share, payable on March 9 to stockholders of record on February 12.

(a) When did this divided become a liability to Lupinski?
(b) Prepare any journal entries required in Kupinski's accounting records relating to this cash dividend on the following dates in the current year.
1.) January 11
2.) February 12
3.) March 9
4.) December 31

(d) What general types of information must public companies regulated by the SEC disclose in their annual reports regarding their divided policies? Why is this information important to potential investors?

Reference no: EM13600444

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