The Board of Directors of Capstone Inc

question 92

Short Answer

The board of directors of Capstone Inc.declared a $0.60 per share cash dividend on its $1 par common stock.On the date of declaration,there were 50,000 shares authorized,20,000 shares issued,and 5,000 shares held as treasury stock.Assuming the dividends were declared on June 1,what is the entry on June 30 to record the payment of cash dividends?

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Definitions:

Professional Identity

The self-concept based on attributes, beliefs, values, motives, and experiences as a member of a profession.

Nonwhite Female

A term describing a female individual who does not identify as white, highlighting aspect of ethnicity or race in social and demographic contexts.

Growing Respect For Tradition

An increasing appreciation and value placed on cultural, religious, or familial customs and practices passed down through generations.

Globalization

The process of interaction and integration among people, companies, and governments worldwide, often characterized by global economic, cultural, and political exchanges.