Fetzer Company declared a $0.30 per share cash dividend. The company has 180,000 shares authorized, 171,000 shares issued, and 7,200 shares in treasury stock. The journal entry to record the dividend declaration is:

Fetzer Company declared a $0.30 per share cash dividend. The company has 180,000 shares authorized, 171,000 shares issued, and 7,200 shares in treasury stock. The journal entry to record the dividend declaration is:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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