Business, 14.04.2020 19:54 ani61

Oct. 20, 2016—Handy Harvey (NYSE: SWK) announced today that its board of directors approved a regulay fourth-quarter cash dividend of $0.58 per common share. This extends the company's record for the longest consecutive annual and exchange. The dividend is a payable on Tuesday, December 20 2016, to shareholders of record as of the close of business on Friday, December 2 2016. At the time of the press release, the company had 308 million shares authorized and 145.8 million outstanding. The par value for the company’s stock is $2.50 per share.

Required:
Prepare journal entries as appropriate for each of the three dates mentioned above and to close the dividends account.

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Oct. 20, 2016—Handy Harvey (NYSE: SWK) announced today that its board of directors approved a regula...

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