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QUESTION
Prepare Journal Entries for:The declaration of the dividend b.The payment of the dividend Starry Cellars Inc. has 125,000 common shares outstanding...
Prepare Journal Entries for:
a. The declaration of the dividend
b. The payment of the dividend
Starry Cellars Inc. has 125,000 common shares outstanding on January 1, 2018. On May 27, 2018, the board of directors declared a semi-annual cash dividend of $1.25 per share. The dividends were be paid June 28, 2018 to shareholders on record on June 8, 2018.
