On January 1, 2016, Alpha Corporation had 100,000 shares of
common stock outstanding. On April 15,...
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Accounting
On January 1, 2016, Alpha Corporation had 100,000 shares ofcommon stock outstanding. On April 15, the board declared a $0.30per share dividend to be paid to stockholders of record on May 4.The dividend was distributed on May 15. Use this information toprepare the General Journal entries (without explanation) for April15 & May 15. If no entry is required then write "No EntryRequired."
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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
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