WileyPLUS mmel, Accoting: Tools for Business Decision Making PRINCIPLES OF ACCOU

Question

WileyPLUS mmel, Accoting: Tools for Business Decision Making PRINCIPLES OF ACCOUNTING (ACCT 1010/1020) Home Read, Study & Practice Assignment Gradebook ORION Assignment> Open Assignment CALCULATOR ·FULL SCREEN BACK NEXT ASSIGNMENT RESOURCES Chapter 11-Hemework Briet Exercise 11-2 Brief Exercise 11-5 Troutman Corporation has 7,000 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Do Itl Review 111 Exercise t1a Do Itl Review 11-6 Exercise 11-9 Brief Exercise 11- Exercise 11-6 Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the Date Account Titles and Explanation Debit Credit Review Score SHOW LIST OF ACCOUNTS Ouestion Attemots: 0 of 2 used SAVE FOR LATER Show All a Termite-Robbins pd

Explanation / Answer

Nov 1  

Dr Cash Dividends (7,000 x $1) $7,000

Cr Dividends Payable $7,000

Dec 31

Dr Dividends Payable $7,000

Cr Cash $7,000

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