Question

Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 27,000 shares authorized, 13,200 shares issued, and 10,800 shares of common stock outstanding. The journal entry to record the dividend declaration is:

Answer 1

Dr Retained Earnings  $5400

Cr Common Dividends Payable $5400

is the journal entry.

What is outstanding share?

Share outstanding concerns to the company's current stock, which is occurred by the all of its shareholder. including fund managers' share blocks and restrictive investments made by the company's officials and personnel.

On a any company's balance sheet, Capital Stock is the main heading in which outstanding shares are listed.

Thus, the journal entry has passed above.

For more details about outstanding share, click here:

brainly.com/question/18568835

#SPJ1