On January 1, 2016, Alpha Corporation had 100,000 shares of common stock outstanding. On April 15,...

On January 1, 2016, Alpha Corporation had 100,000 shares of common stock outstanding. On April 15, the board declared a $0.30 per share dividend to be paid to stockholders of record on May 4. The dividend was distributed on May 15. Use this information to prepare the General Journal entries (without explanation) for April 15 & May 15. If no entry is required then write "No Entry Required."

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Answer-a)- Journal Entry:-15 April

Dividends (100000 shares*$0.30 per share) Debit $30000

Dividend payable Credit $30000

b)- 15 May

Dividend payable Debit $30000

Cash Credit $30000

ekkarill92 answered 2 months ago

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