Question
MTM Company declared a $125,000 cash dividend on December 1, 2007 to be paid on January 1, 2008. The entry on December 1, 2007 for
MTM Company declared a $125,000 cash dividend on December 1, 2007 to be paid on January 1, 2008. The entry on December 1, 2007 for this event would include a debit to:
a. retained earnings.
b. dividend expense.
c. common stock.
d. additional paid in capital.
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a retained earnings Explanation There are two ways to record dividend Firs...
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
