On November 27, the board of directors of Armstrong Company declared a $.50 per share dividend.The dividend is payable to shareholders of record on December 7 on December 24.Armstrong has 25,500 shares of $1 par common stock outstanding at November 27.Journalize the entries needed on the declaration and payment dates.

Question

Quizplus · Accepted Answer

The Answer of On November 27, the board of directors of Armstrong Company declared a $.50 per share dividend.The dividend is payable to shareholders of record on December 7 on December 24.Armstrong has 25,500 shares of $1 par common stock outstanding at November 27.Journalize the entries needed on the declaration and payment dates.

On November 27, the Board of Directors of Armstrong Company