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eduard
3 years ago
9

Sheffield Corporation has 84,000 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to s

tockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend.
Business
1 answer:
aliya0001 [1]3 years ago
7 0

Answer: Please check in the explanation column for answer

Explanation: The entries on the appropriate dates to record the declaration and payment of cash dividend in Sheffield Corporation  is given as

Nov 1.

Debit: Cash Dividends 84,000

Credit: Dividends Payable 84,000

Dec 31.

Debit: Dividends Payable 84,000

Credit: Cash 84,000

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3 years ago
Somerset Computer Company has been purchasing carrying cases for its portable computers at a purchase price of $24 per unit. The
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The roots of today's anthropology emerged from very early accounts of travelers in previous centuries. what about these accounts
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2. The case says that Kayem Foods is not meeting its profit targets. Why is it difficult for this firm to make money in this mar
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3 years ago
Universal Travel Inc. borrowed $500,000 on November 1, 2013, and signed a 12-month note bearing interest at 6%. Interest is paya
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Answer:

C.$5,000.

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November 1, 2013

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