Prepare journal entries on the appropriate dates for the dividends.Headlands Limited has the following information available regarding its share capital at December :
Preferred shares, $ cumulative, shares issued
$
Preferred shares, $ noncumulative, shares issued
Common shares, shares issued
Tamarisk Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July
The following information has been taken from the adjusted trial balance:
Accounts payable
$
Interest expense
$
Cash dividends
common
Notes payable
Common shares
Retained earnings
Aug
Cost of goods sold
Salaries expense
Dividends payable
Sales
Income tax expense
Supplies expense
Income tax payable
Unearned revenue
All accounts have normal balances and total assets equal $
Tamarisk has a
income tax rate. Prepare a multiplestep income statement
