FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Woodland Inc. Declared a cash dividend of $1.00 per share on its 2 million outstanding shares. The dividend was declared on August 1,
payable on Sept 9 to all stockholders of Record on August 15.
What is the Journal entry that should be generated on September 9?
O No Entry Necessary
O Dividends Payable
$2.000 000
Cash
$2 000.000
O Dividends Expense
$2.000 C00
Cash
S2 000 000
O Retained Earnings
Dividends Payable
$2 000 C00
$2 000 000
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Transcribed Image Text:Woodland Inc. Declared a cash dividend of $1.00 per share on its 2 million outstanding shares. The dividend was declared on August 1, payable on Sept 9 to all stockholders of Record on August 15. What is the Journal entry that should be generated on September 9? O No Entry Necessary O Dividends Payable $2.000 000 Cash $2 000.000 O Dividends Expense $2.000 C00 Cash S2 000 000 O Retained Earnings Dividends Payable $2 000 C00 $2 000 000
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