On November 27, the Board of Directors of Armstrong Company

question 243

Essay

On November 27, the board of directors of Armstrong Company declared a $.50 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Armstrong has 25,500 shares of $1 par common stock outstanding at November 27. Journalize the entries needed on the declaration and payment dates.

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Definitions:

Self-Contradiction

Self-contradiction is a logical inconsistency whereby a statement contradicts itself directly or indirectly, rendering it logically impossible.

Main Component

The primary or most important part of a system.

Conjunct

An element of a conjunction in logic, where each conjunct must be true for the whole conjunction to be true.

Conjunction

In grammar, a word used to connect clauses or sentences or to coordinate words in the same clause. In logic, a compound statement formed with the word "and" to connect two statements, both of which must be true for the whole conjunction to be true.