On November 27 the board of directors of Beth Company declared a $.60 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Beth has 25500 shares of $1 par common stock outstanding at November 27. Journalize the entries needed on the declaration and payment dates.

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MacKenzie White · Accepted Answer

Final Answer :  Nov. 27   Cash Dividends.  15 , 300 Dividends Payable  15 , 300  Dec. 24   Dividends Payable  15 , 300  Cash  15 , 300 \begin{array}{llr}  	ext {Nov. 27  }  &  	ext {  Cash Dividends. }  & 15,300\ &  	ext {Dividends Payable  }  & & 15,300\\  	ext { Dec. 24 }  &  	ext {  Dividends Payable }  & 15,300\ &  	ext { Cash }  & & 15,300\end{array} Nov. 27   Dec. 24  ​  Cash Dividends.  Dividends Payable   Dividends Payable   Cash  ​ 15 , 300 15 , 300 ​ 15 , 300 15 , 300 ​

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