Quinn Corporation has 2,000 shares of common stock issued and outstanding.The board of directors declared a $1.00 per share cash dividend on January 5,payable on March 5,to stockholders of record on February 5.Prepare the appropriate journal entries for the declaration and payment of the dividend.

Question

Quizplus · Accepted Answer

The Answer of Quinn Corporation has 2,000 shares of common stock issued and outstanding.The board of directors declared a $1.00 per share cash dividend on January 5,payable on March 5,to stockholders of record on February 5.Prepare the appropriate journal entries for the declaration and payment of the dividend.

Quinn Corporation Has 2,000 Shares of Common Stock Issued and Outstanding.The