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QS 11-6 Accounting for cash dividends LO P2 Prepare journal entries to record the above...

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Accounting

QS 11-6 Accounting for cash dividends LO P2

Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

July 15 Declared a cash dividend payable to common stockholders of $177,000.
Aug. 15 Date of record is August 15 for the cash dividend declared on July 15.
Aug. 31

Paid the dividend declared on July 15.
  • Record the declaration of a cash dividend payable to common stockholders.

Note: Enter debits before credits.
Date General Journal Debit Credit
Jul 15
  • Record the entry on the date of record for the cash dividend of $177,000.

Note: Enter debits before credits.
Date General Journal Debit Credit
Aug 15
  • Record the payment of cash dividend.

Note: Enter debits before credits.
Date General Journal Debit Credit
Aug 31

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