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Question - Kazue Corporation has 250,000 authorized shares of common stock with 160,000 shares issued and outstanding for the year 2012. The following transactions relate to cash dividends of Kazue Corporation for the year ended December 31, 2012. Prepare journal entries without explanations to record the following transactions:
June 1 Declared a cash dividend of $.75 per common share.
June 15 Compiled the list of individual shareholders eligible for the dividend declared on June 1.
July 5 Paid the dividend declared on June 1.
Dec. 1 Declared a cash dividend of $.50 per common share to be paid on January 5, 2013.
Dec 15 Compiled the list of individual shareholders eligible for the dividend declared on Dec 1.
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