Prepare journal entries to record the following transactions for Emerson Corporation.July 15Declared a cash dividend payable to common stockholders of $160,000.August 15Date of record is August 15 for the cash dividend declared on July 15.August 31Paid the dividend declared on July 15.

Journal Entry :— It is an act of recording transaction in books of account when transaction…

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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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July 15	Declared a cash dividend payable to common stockholders of $160,000.
August 15	Date of record is August 15 for the cash dividend declared on July 15.
August 31	Paid the dividend declared on July 15.

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26 )
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Prepare journal entries to record the following transactions for Emerson Corporation. July 15 Declared a cash dividend payable to common stockholders of $160,000. August 15 Date of record is August 15 for the cash dividend declared on July 15. August 31 Paid the dividend declared on July 15.