Ask Question
9 August, 19:49

On March 15, American Eagle declares a quarterly cash dividend of $0.045 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 226 million sharesOn March 15, American Eagle declares a quarterly cash dividend of $0.045 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 226 million shares

+5
Answers (1)
  1. 9 August, 20:17
    0
    The journal entries are shown below:

    On March 15

    Dividend A/c Dr $10,170,000 (226,000,000 shares * $0.045)

    To Dividend payable A/c $10,170,000

    (Being cash dividend declared)

    On March 30

    No entry

    April 13

    Dividend payable A/c $10,170,000

    To Cash A/c $10,170,000

    (Being the payment of cash dividend is recorded)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On March 15, American Eagle declares a quarterly cash dividend of $0.045 per share payable on April 13 to all stockholders of record on ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers