Bonneau Corporation declares a cash dividend of $100,000 on July 1 for any shareholder on record on July 15. The dividend will be paid on July 31. Journalize the entries required on each date.
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- Bingo Corporation’s board of directors declared a P950,000 cash dividend on March 1, 2018, payable on June 1, to shareholders of record on March 15. Prepare all appropriate entries needed on the declaration, record, and payment dates.A Bingo Corporation's board of drectors decdared a P950,000 cash dividend on March 1, 2018, payable on June 1, to shareholders of record on March 15. Prepare all appropriate entries needed on the declaration, record, and payment dates.On April 15 of this year, the board of directors for Jedi Company declared a cash dividend of 55 cents per share payable to stockholders of record on May 20. The dividends will be paid on June 14. The company has 107,000 shares of stock outstanding. Prepare any necessary journal entries for each date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
- On November 21, 2019, Chubb Limited issued the following press release: The Board of Directors of Chubb Limited (NYSE: CB) today declared a quarterly dividend equal to $0.75 per share, payable on January 10, 2020 to shareholders of record at the close of business on December 20, 2019. From the information above, identify the dividend declaration date, record date, and payment date. Determine the financial statement effects of Chubb’s declaration and payment of cash dividends for its 452 million shares.Mocha Company earned net income of $110,000 during the year ended December 31, 2018. On December 15, Mocha declared the annual cash dividend on its 3% preferred stock (par value, $125,000) and a $1.00 per share cash dividend on its common stock (62,000 shares). Mocha then paid the dividends on January 4, 2019. Read the requirements. Requirement 1. Journalize for Mocha the entry declaring the cash dividends on December 15, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation 2018 Dec. 15 Debit 2019 Jan. 4. Requirement 2. Journalize for Mocha the entry paying the cash dividends on January 4, 2019. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Credit Debit CreditGrouper Corp. has 7,700 shares of common stock outstanding. It declares a $5 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit
- Zeus Ltd declared a final dividend to its shareholders at the Annual General Meeting on 31.12.2017 of $1,200,000. The amount was finally paid on 31.3.2018. Required: Prepare the Journal Entries for the declaration and distribution of the dividends in 2017 and 2018.Madison Company earned net income of $75,000 during the year ended December 31, 2018. On December 20, Madison declared the annual cash dividend on its 8% preferred stock (par value, $150,000) and a $0.50 per share cash dividend on its common stock (45,000 shares). Madison then paid the dividends on January 10, 2019. Prepare the journal entries to record the declaration and the distribution of the dividends.Bridgeport Inc. declared a cash dividend of $0.50 per share on its 3.40 million outstanding shares. The dividend was declared on August 1 and is payable on September 9 to all shareholders of record on August 15. Prepare all necessary journal entries for those three dates. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date 10 Account Titles and Explanation Debit Credit 111 |||||
- Eidman Corporation has 80,000 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to stockholders of record on December 1.The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend.Greenwood Corporation has 80,000 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend.The board of directors of Blue Spruce Corp. declared a cash dividend of $2.45 per share on 32000 shares of common stock on July 15, 2020. The dividend is to be paid on August 15, 2020, to stockholders of record on July 31, 2020. The effects of the journal entry to record the payment of the dividend on August 15, 2020, are to