Question

CALCULATOR FULL SCREEN PRINTER VERSION OKNEK Question 14 Swifty Corporation has 83,000 shares of common stock outstanding. It declares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. Ir ne entry is required, select No Entry for the account titles and enter for the amounts. Date Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Doen Show Work By accessing this Question Assistance, you will learn while you can points based on the Point Potential Policy set by your instructor Question Attempts 0 of 4 used SAVE FOR LATER SUBMIT ANSWER Earn Maximum Points available only if you answer this question correctly in four attempts or less.

Answer 1

Date	Account	Debit	Credit
Nov 1	Cash dividends	166,000
	Dividends payable		166,000
	(83,000*2)
Dec 31	Dividends payable	166,000
	Cash		166,000