When a Cash Dividend Is Declared, Three Different Dates Usually

question 149

Essay

When a cash dividend is declared, three different dates usually are involved. These three dates are described below. Assume a $5,000 cash dividend. Part A: Name the dates in the space provided: $$\begin{array} { | l | l | l | } \hline & \text { Description } & \text { Name of the Date } \\\hline \text { A } & \begin{array} { l } \text { Date on which the Board of Directors votes on the } \\\text { dividend }\end{array} & \\\hline \text { B } & \begin{array} { l } \text { Date on which the names are taken from the shareholder } \\\text { records }\end{array} & \\\hline \text { C } & \text { Date on which the dividend cheques are mailed } & \\\hline\end{array}$$ Part B: Prepare the journal entry for each date: $$\begin{array} { | l | l | l | } \hline & \text { Description } & \text { Journal Entry } \\\hline \text { A } & \begin{array} { l } \text { Date on which the Board of } \\\text { Directors votes on the dividend }\end{array} & \\\hline \text { B } & \begin{array} { l } \text { Date on which the names are } \\\text { taken from the shareholder } \\\text { records }\end{array} & \\\hline \text { C } & \begin{array} { l } \text { Date on which the dividend } \\\text { cheques are mailed }\end{array} & \\\hline\end{array}$$

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Definitions:

Cardinal Traits

Dominant personality traits that influence most of a person's behaviors and attitudes, according to the theory of Gordon Allport.

Stages of Development

A theory in psychology that proposed human growth occurs in predictable phases, each with its own set of challenges and accomplishments, often associated with the work of Erik Erikson and Jean Piaget.

Rational Coper

An individual who uses logic and reasoning to face and solve problems, effectively managing emotions and behaviors in challenging situations.

Propriate Striving

The effort to achieve goals that are consistent with one's self-image and essential aspects of the personality, as outlined by Gordon Allport.