On November 1,2019,Stateside,Inc

question 53

Essay

On November 1,2019,Stateside,Inc.declared a dividend of $3.00 per share.Stateside,Inc.has 20,000 shares of common stock outstanding and no preferred stock.The date of record is November 15,and the payment date is November 30,2019.Provide the journal entry needed on November 30.Omit explanation.

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Definitions:

Straight-Line Depreciation

A method of calculating the depreciation of an asset, where the asset's cost is evenly spread over its useful life.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and can be easily identified and measured.

Production Supervisor

An individual responsible for overseeing the daily operations of the manufacturing floor, ensuring efficient production and quality standards.

Property Taxes

Taxes assessed on real estate by local government, based on the assessed value of the property.