This company has 500000 shares authorized and 100000 shares, Financial Accounting

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This company has 500000 shares authorized and 100000 shares

On July 31, a company declared a cash dividend of $0.25 per common share to the shareholders of record on August 15. The cash dividend will be paid on August 25. This company has 500,000 shares authorized and 100,000 shares outstanding. Prepare the journal entries required on July 31, August 15 and August 25.

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Financial Accounting: This company has 500000 shares authorized and 100000 shares

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Financial Accounting: This company has 500000 shares authorized and 100000 shares

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