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7nadin3 [17]
2 years ago
15

ordan Industries declared a $0.90 per share cash dividend. The company has 180,000 shares authorized, 61,000 shares issued, and

58,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration
Business
1 answer:
Sophie [7]2 years ago
6 0

Answer:

Dividend = 58,000 * $0.90

Dividend = $52,200

Date   Account titles and Explanation      Debit       Credit

          Dividend declared                            $52,200

                 Dividend payable                                       $52,200

           (To record the dividend declaration)

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