Accounting for cash dividends LO P2

July 15 Declared a cash dividend payable to common stockholders of $165,000.

Aug. 15 Date of record is August 15 for the cash dividend declared on July 15.

Aug. 31 Paid the dividend declared on July 15.

-Prepare journal entries to record the above transactions for Emerson Corporation.

(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) J

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.