Solution-Prepare journal entries for the declaration of the

Prepare journal entries for the declaration of the dividend

Reference no: EM132830781

Problem 1: Prepare Journal Entries for: a. The declaration of the dividend b. The payment of the dividend

Wednesday Inc. has 150,000 common shares outstanding on January 1, 2020. On May 27, 2020, the board of directors declared a semi-annual cash dividend of $1.25 per share. The dividends were paid June 28, 2020 to shareholders on record on June 7, 2020.

Reference no: EM132830781

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Prepare journal entries for the declaration of the dividend

Reference no: EM132830781

Reference no: EM132830781

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