b. The business is a corporation that issued 1,000 common shares. Cash dividend account is used for declaring dividends. View transaction list Journal entry worksheet Record the issuance of common shares. Note: Enter debits before credits. Date February 14 General Journal Debit Credit
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The declaration, record, and payment dates in connection with a cash dividend of $115,900 on the corporation's common stock are January 12, March 13, and April 12. Required: Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when the credit amount is entered.
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Greene Corporation sells 200 ordinary shares being held as an investment. The shares were acquired six months ago at a cost of $50 a share. Greene sold the shares for $40 a share. The entry to record the sale is: a. Cash.................................................................................... 8,000 Share Investments ............................................................ 8,000 b. Cash.................................................................................... 10,000 Gain on Sale of Share Investments ............................... 2,000 Share Investments ............................................................ 8,000 c. Share Investments ............................................................ 8,000 Loss on Sale of Share Investments ............................... 2,000 Cash 10,000 d. Cash.................................................................................... 8,000 Loss on Sale of Share Investments ............................... 2,000 Share Investments ............................................................ 10,000
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