Final 10 - (in proper format assuming a cash dividend in...

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Question 10 Needs Grading Fowler Co.'s  balance sheet  showed the  following at  December 31,  2011: Common  stock, $10 par $100,000 Paid-in capital  – excess of  par   50,000 Retained  earnings   20,000 A cash  dividend is  declared on  December 31,  2011, and is  payable on  January 20,  2012, to  shareholders  of record on  January 10,  2012. Required : Prepare all  appropriate  journal entries 
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Unformatted text preview: (in proper format), assuming a cash dividend in the amount of $1.00 per share. Problem #10: General Journal Date Account Dr Cr Dec. 31, 2011 Retained Earnings 10,000 [($1 x ($100,000/$10)] Cash Dividends payable 10,000 Jan. 10, 2012 NO ENTRY Jan. 20, 2012 Cash dividends payable 10,000 Cash 10,000...
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Final 10 - (in proper format assuming a cash dividend in...

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