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On January 1, 2016, Alpha Corporation had 100,000 shares of common stock outstanding. On April 15,...

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Accounting

On January 1, 2016, Alpha Corporation had 100,000 shares ofcommon stock outstanding. On April 15, the board declared a $0.30per share dividend to be paid to stockholders of record on May 4.The dividend was distributed on May 15. Use this information toprepare the General Journal entries (without explanation) for April15 & May 15. If no entry is required then write "No EntryRequired."

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Answer-a)- Journal Entry:-15 April

         Dividends (100000 shares*$0.30 per share)              Debit $30000

                         Dividend payable                                                                      Credit $30000

b)- 15 May

       Dividend payable                                                           Debit $30000

                              Cash                                                                                     Credit $30000
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