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Cash dividends
How would I actually prepare a T account for cash dividends? I don't need the answer to the problem just someone to explain how to go about solving. Thanks
The M Corporation has 250,000 authorized shares of $1 par value common stock, of which 200,000 are issued, including 20,000 shares of treasury stock. On October 15, the corporation's board of directors declared a cash dividend of $.25 per share payable on November 15 to stockholders of record on November 1. Prepare entries in T account for for each date. |
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