(Answered) On may 1 2013 sturgis corporation declared a 100000 cash

Accounting

On May 1, 2013, Sturgis Corporation declared a $100,000 cash dividend to be paid on May 31 to shareholders of record on May 15.

Required:

a. Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA).

1041_264-B-A-C (265).png

b. Prepare journal entries for all events associated with the dividend.

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