Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. desert apparel has 6,000 shares of common stock ou

Desert Apparel has 6,000 shares of common stock outstanding. On April 1, the company declares...

60.1K

Verified Solution

Question

Accounting

Desert Apparel has 6,000 shares of common stock outstanding. On April 1, the company declares a $2 per share dividend to stockholders of record on April 15. The dividend is paid on April 30. Record all necessary entries on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

  1. Record the declaration of Cash dividend of $2 per share to stockholders recorded on April 15.
  2. Record Entry on April 15.
  3. Record the cash dividend paid.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students