Acompany has 10,000 shares of common stock issued and 2,000 shares of treasury stock. The par value of the stock is $10 per share. On January 1, Year 1, the company declared a 5 percent dividend to be paid in cash on June 30, Year 1. Required:
What journal entry should the company record on the declaration date?

Gif the federal reserve did not regulate fiscal policy, monitor banks and provide services for banks, what would most likely be the economic conditions to transact business in the u.s.? the economy would primarily be based on a barter system rather than a fiat system. there would be no discrimination in lending by local banks. the economy would be less efficient and transactions most likely more costly.