On March 1, Blue Devil Inc. declared the cash dividends of $44,000 to its common shareholders. Blue Devil recorded the names of shareholders on March 8 and ultimately made payments to shareholders on March 15. Prepare the journal entries for the following cash dividend dates: (1) the date of declaration, (2) the date of record, and (3) the date of payment.

On March 1, Blue Devil Inc. declared the cash dividends of $44,000 to its common shareholders. Blue Devil recorded the names of shareholders on March 8 and ultimately made payments to shareholders on March 15. Prepare the journal entries for the following cash dividend dates: (1) the date of declaration, (2) the date of record, and (3) the date of payment.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings

Section: Chapter Questions

Problem 8SPB: CASH DIVIDENDS AND INCOME TAXES During the year ended December 31, 20-2, Tatu Company completed the...

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