Business, 03.01.2020 02:31 deannajd03

Divine apparel has 3,100 shares of common stock outstanding. on october 1, the company declares a $0.75 per share dividend to stockholders of record on october 15. the dividend is paid on october 31. record all transactions on the appropriate dates for cash dividends. (if no entry is required for a particular transaction/event, select "no journal entry required" in the first account field.)1) record the declaration of cash dividends.2) record the entry on date of record.3) record the payment of cash dividends

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Answer from: nekobaby75

Debit Credit

Retained Earnings ($0.75*3,100) $2,325

Dividend payable $2,325

2. "No Journal Entry Required"

Debit Credit

Dividend payable $2,325

Cash $2,325

Explanation:

The following journal entries will be required to be made

1. Recording declaration of dividend

The Divine Apparel shall record the the following journal entry on October 1 in respect of dividend declared by it.

Debit Credit

Retained Earnings ($0.75*3,100) $2,325

Dividend payable $2,325

2.Record the entry on date of record

"No Journal Entry Required"

3.Record the payment of cash dividends

The Divine Apparel shall record the the following journal entry on October 31 in respect of dividend paid by it.

Debit Credit

Dividend payable $2,325

Cash $2,325

Answer from: Quest

Idont have idea about ir

Answer from: Quest

1) i would probably get rid of my phone so i get extra money 2) it probably won’t because your would have to give up a lot but u need all the things u have3) your should probably not get the laptop and just save for college

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Divine apparel has 3,100 shares of common stock outstanding. on october 1, the company declares a $0...

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