RCA declares a $25,000 dividend on Jan 15, 2017 to shareholders on Jan 30 2017. The...
RCA declares a $25,000 dividend on Jan 15, 2017 to shareholders on Jan 30 2017. The dividend will be paid on Feb 15 2017.
1) What is the journal entry on Jan 15?
| Assets | Liabilities | Stockholders Equity |
2) What is the journal entry on Jan 30?
| Assets | Liabilities | Stockholders Equity |
3) What is the journal entry on Feb 15?
| Assets | Liabilities | Stockholders Equity |
Homework Answers
| No. | Date | Accounts | Debit | Credit |
| 1 | Jan 15 | Dividend | $25,000 | |
| Dividend Payable | $25,000 | |||
| 2 | Jan 30 | No Entry | ||
| 3 | Feb 15 | Dividend Payable | $25,000 | |
| Cash | $25,000 |
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