Instructions Berkwild Company is authorized to issue 2,000,000 shares of common stock. At the beginning...
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Instructions Berkwild Company is authorized to issue 2,000,000 shares of common stock. At the beginning of 2019, Berkwild had 295,000 issued and outstanding shares. On July 2, 2019, Bertold repurchased 4,270 shares of its common stock at $29 per share on March 1 and September 1, Berkwild declared a cash dividend of $1.80 per share. The dividends were paid on April 1 and October 1. Required: 1. Prepare the journal entries to record the declaration of the two clin dividends. 2. Prepare the journal entries to record the payment of the two dividends. 3. Conceptual Connection: Explain why the amounts of the two dividends are different
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