On November 24th, B & B Corporation declared a $0.40 per share cash dividend. The dividend will be payable on December 12th to the stockholders of record as of December 5th. B&B Corporation has 25,500 shares of $1 par value common stock outstanding on November 24th. On December 12th, B& B had 30,000 shares of $1 par value common stock outstanding. Prepare the journal entries on the declaration and payment dates.

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The Answer of On November 24th, B & B Corporation declared a $0.40 per share cash dividend. The dividend will be payable on December 12th to the stockholders of record as of December 5th. B&B Corporation has 25,500 shares of $1 par value common stock outstanding on November 24th. On December 12th, B& B had 30,000 shares of $1 par value common stock outstanding. Prepare the journal entries on the declaration and payment dates.

On November 24th, B & B Corporation Declared a $0