financial accounting: Recording Dividends

timer Asked: Apr 28th, 2018

Question Description

Frey & Felder (F&F) brands touch the lives of people around the world in 180 countries and territories. The F&F community consists of nearly 188,900 employees. In 2014, the company had 10 billion shares of common stock authorized, 4 billion shares issued, and 3 billion shares outstanding. Par value is $1 per share. F&F has been paying a dividend for over 120 years and 2014 marks the 58th consecutive year that the Company has increased its dividend.


Assume that F&F declared a dividend of $2.54 per share on October 1, 2014, to stockholders of record on October 15. F&F paid the dividend on October 20. Prepare journal entries as appropriate for each date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0).)

This question has not been answered.

Create a free account to get help with this and any other question!

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors