Solved: Abc corp declared dividends of 150 per share on january 1, Accounting Basics

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Abc corp declared dividends of 150 per share on january 1

Question - ABC Corp declared dividends of $1.50 per share on January 1, 2015. ABC Corp has 1,000,000 shares of stock outstanding.
On July 1, 2015, ABC Corp paid those dividends to its shareholders.

1. Record the entry to accrue dividends.

2. Record the entry to pay the dividends.

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Accounting Basics: Abc corp declared dividends of 150 per share on january 1

Reference No:- TGS02670919

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Accounting Basics: Abc corp declared dividends of 150 per share on january 1

Reference No:- TGS02670919

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