204.Mercer Corporation has 200,000 shares of $10 stated value no-par common stock authorized, and 160,000 shares were outstanding during 20×7. The following transactions relate to cash dividends of Mercer Corporation for the year ended December 31, 20×7. Prepare entries in journal form without explanations to record the following transactions:
June
1
Declared a semiannual cash dividend of $0.50 per common share.
15
Compiled the list of individual shareholders eligible for the dividend declared on June 1.
July
5
Paid the dividend declared on June 1.
Dec.
1
Declared a semiannual cash dividend of $0.50 per common share to be paid on January 5, 20×8.
15
Compiled the list of individual shareholders eligible for the dividend declared on December 1.
31
Closed the Dividends account at year end.
General Journal
Page 1
Date
Description
Post.
Ref.
Debit
Credit
205.Sylmar Corporation has 30,000 shares of $100 stated value no-par common stock authorized, and 20,000 shares were outstanding during 20×7. The following transactions relate to cash dividends of Sylmar Corporation for the year ended December 31, 20×7. Prepare entries in journal form without explanations to record the following transactions:
June
1
Declared a semiannual cash dividend of $0.70 per common share.
15
Compiled the list of individual shareholders eligible for the dividend declared on June 1.
July
5
Paid the dividend declared on June 1.
Dec.
1
Declared a semiannual cash dividend of $0.70 per common share to be paid on January 5, 20×8.
15
Compiled the list of individual shareholders eligible for the dividend declared on December 1.
31
Closed the Dividends account at year end.
General Journal
Page 1
Date
Description
Post.
Ref.
Debit
Credit
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