Prepare the necessary journal entries to be recorded

Assignment Help Financial Accounting

Reference no: EM13215033

Lindy Corporation has 1,000,000 authorized shares of $20 par value common stock. As of June 30, 2014, there were 600,000 shares issued and outstanding. On June 30, 2014, the board of directors declared a $0.50 per share cash dividend to be paid on August 1, 2014.

Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment.

Reference no: EM13215033

Questions Cloud

Intrinsic link between policy-power and politics : "There is an intrinsic link between policy, power, and politics in an organization. How are these linked? Describe an experience that relates to politics within an organization.

What is richmond corporations total net cash flow : What is Richmond Corporation's total net cash fl ow from the current lockbox systemavailable to meet payroll and what cost of ACH transfers would make the company indifferent between the twosystems

Demonstrate the impact of fixed costs on output : From the e-Activity, examine how the company you researched can reduce costs to increase the contribution margin and analyze the impact of CVP analysis on strategic decisions. Design a short situation to demonstrate the impact of fixed costs on out..

Toddlers who regress and pretend play : Toddlers who regress and pretend play that are a baby do so perhaps because?

Prepare the necessary journal entries to be recorded : Lindy Corporation has 1,000,000 authorized shares of $20 par value common stock. As of June 30, 2014, there were 600,000 shares issued and outstanding. On June 30, 2014, the board of directors declared a $0.50 per share cash dividend to be paid on..

Exercise promotion and public relations strategy : "There are many ways to exercise promotion and public relations strategy. One way is to use humor to promote your product. Discuss a promotion that uses humor to achieve its goals.

Determine transactions occur during the month of july : At the beginning of July, CD City has a balance in inventory of $2,925. The following transactions occur during the month of July. July 3 Purchase CDs on account from Wholesale Music for $1,860, terms 3/10, n/30. July 4 Pay freight charges related t..

How effective is wal-mart''s website : "How effective is Wal-Mart's website in making it each to purchase goods? Elaborate on this. They are moving into service areas such as Hip to Site services: is this a good marketing tool & why? Is this a good retailing strategy for Wal-Mart?

Determine the average expected real growth rate : Cisco doing work that he was capable of performing. The idea was to try him out at various positions to see what worked for John and worked for Cisco. Obviously his pay would be reduced, but Cisco management was willing to commit to paying him a s..

User Account

All Pages