11 what journal entry is recorded on the date of declaration to avoid a year end clo 4351937

11) What journal entry is recorded on the date of declaration to avoid a year-end closing entry of the dividends account?

12) What journal entry is recorded on the date of payment?

13) A type of share that pays dividends in arrears is called a __________,

14) The liability “dividend payable” is recognized on the date of __________.

15) What are the two types of preferred shares?

16) What is it called when a company does not have enough cash to fund an entire annual preferred dividend?

17) ABC Co. declares a $0.50 per share cash dividend on its common shares, of which 100,000 shares are outstanding.  Record the journal entry to avoid a year-end closing entry of the dividends account.

18) Identify and explain the three dates associated with the declaration and payment of a cash dividend.

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