Define the following dividend dates for a cash dividend.For each date,state whether a journal entry should be recorded.In addition,if a journal entry should be record,state the effect on assets,liabilities or equity.
Definitions:
Activities Reported
A summary or record of actions, events, or operations that have taken place within a specific period.
Balance Sheet
A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing insight into what the company owns and owes as well as the amount invested by shareholders.
Purpose
The justification for the existence, creation, or action of something.
Return on Assets
Return on assets (ROA) is a financial ratio that indicates how profitable a company is relative to its total assets, calculating how effectively a company uses its assets to generate profit.
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