Prepare the journal entry to record Evans’ transaction, under the following conditions.( Round answers to 0 decimal places, e. g. $ 38,487. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select " No Entry " for the account titles and enter 0 for the amounts.)
( 1) Employing the incremental method.
( 2) Employing the proportional method, assuming the recent price quote on the common stock reflects fair value.
4) Lotoya Davis Corporation has 11.01 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 64 cents per share cash dividend to stockholders of record as of June 14, payable June 30.
( a) Prepare the journal entry for each of the dates above assuming the dividend represents a distribution of earnings.( Credit account titles are automatically indented when amount is