The board of directors of Lark Corporation declared a cash dividend of $3.50 per share on 57,000 shares of common stock on June 14,20x5.The dividend is to be paid on July 15,20x5,to shareholders of record on July 1,20x5.The proper entry to be recorded on June 14,20x5 is,
B)No journal entry is necessary on this date.

Question

Quizplus · Accepted Answer

The Answer of The board of directors of Lark Corporation declared a cash dividend of $3.50 per share on 57,000 shares of common stock on June 14,20x5.The dividend is to be paid on July 15,20x5,to shareholders of record on July 1,20x5.The proper entry to be recorded on June 14,20x5 is,
B)No journal entry is necessary on this date.

The Board of Directors of Lark Corporation Declared a Cash