Question

The entry to pay a previously declared dividend of $.25 per share on 12,500 outstanding shares of common stock requires a:

Answer 1

debit to dividends payable for $3,125

Step-by-step explanation:

Based on the information given the journal entry to pay a previously declared dividend of the amount of $.25 per share on 12,500 outstanding shares of common stock requires a:

Debit to dividends payable for $3,125

Calculated as:

Dividends payable =Dividend of the amount of $.25 per share *12,500 outstanding shares of common stock

Dividends payable=$3,125