Question
1.On Nov 1, JKC, Inc.'s Board of Directors declared a cash dividend for the outstanding shares of common stock. The dividend will be paid on
1.On Nov 1, JKC, Inc.'s Board of Directors declared a cash dividend for the outstanding shares of common stock. The dividend will be paid on Dec 31 to stockholders of record on Dec 1. On Nov 1, JKC will have to
| Record a dividend payable | ||
| Record an expense | ||
| Decrease the cash account | ||
| Do nothing |
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2.On Nov 1, JKC, Incs Board of Directors declared a cash dividend for the outstanding shares of common stock. The dividend will be paid on Dec 31st to stockholders of record on Dec 1. From the previous example, On Dec 31st, JKC will have to
| Record a dividend payable | ||
| Record an expense | ||
| Decrease the cash account | ||
| Do nothing |
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