Vaughn Corporation has 12 million shares of common stock issued and outstanding. On June 1,...
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Vaughn Corporation has million shares of common stock issued and outstanding. On June the board of directors voted an cents per share cash dividend to stockholders of record as of June payable June a Your answer is partially correct. Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings. List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. Record entries in the order displayed in the problem statement. Date Account Titles and Explanation Debit Credit Retained Earnings Dividends Payable Dividends Payable Paidin Capital in Excess of Par Common Stock Dividends Pavable 
Vaughn Corporation has million shares of common stock issued and outstanding. On June the board of directors voted an cents per share cash dividend to stockholders of record as of June payable June
a
Your answer is partially correct.
Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings. List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. Record entries in the order displayed in the problem statement.
Date
Account Titles and Explanation
Debit
Credit
Retained Earnings
Dividends Payable
Dividends Payable
Paidin Capital in Excess of Par Common Stock
Dividends Pavable
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