Lindy Corporation Has 1,000,000 Authorized Shares of $20 Par Value

question 227

Essay

Lindy Corporation has 1,000,000 authorized shares of $20 par value common stock. As of June 30, 2014, there were 600,000 shares issued and outstanding. On June 30, 2014, the board of directors declared a $0.50 per share cash dividend to be paid on August 1, 2014.
Instructions
Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, and (c) the date of payment.

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Definitions:

Nash Equilibrium

A concept in game theory where no player can benefit by changing strategies while the other players keep theirs unchanged, indicating a state of mutual best responses.

Simultaneous Game

A strategic situation in which each player makes decisions at the same time, without knowledge of the other players' actions.

Paralegal Work

The performance of legal tasks and support functions under the direction of an attorney.

Legal Research

The method of finding and gathering relevant information to aid in legal decisions, which involves the examination of laws, court decisions, and previously established legal norms.