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Divine Apparel has 4,000 shares of common stock outstanding. On October 1, the company declares a $0.75 per share dividend to stockholders of record on October 15. The dividend is paid on October 31. Problem 1: Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
oct. 1, Record the declaration of cash dividends.oct 15, Record the entry on date of record.oct. 31, Record the payment of cash dividends.
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The condensed income statement for the year ended December
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