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Record the declaration of cash dividend on common shares

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Reference no: EM132617387

Question - On March 1, the board of directors declared a cash dividend of $0.75 per common share to shareholders of record on March 10, payable March 31. There were 123,000 shares issued and outstanding on March 1 and no additional shares had been issued during the month. Record the entries for March 1, 10, and 31. The cash dividends account is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Required -

Record the declaration of cash dividend on common shares of $0.75 per share.

Record the declaration of cash dividend of $0.75 per share to share holders on record.

Record the payment of dividends declared on March 1.

Reference no: EM132617387

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