Question
A cash dividend is __ - a conta asset account - a pro rate distribution of cash to stockholders - normal balance a credit -
A cash dividend is __
- a conta asset account
- a pro rate distribution of cash to stockholders
- normal balance a credit
- recorded as an expense to company
2. a stock dividend
-is a contra asset account
- a pro rate distribution to stockholders of corporations own stock
-reported on income statement
- increases owners equity
3. A stock split
- allocated to preferred stockholders only
-increases owners equity
-recorded debit to cash
-allocated to stockholders pro rate according to their % ownership
4. deficit is
- credit balance in retained earnings
- debit balance in retained earnings
- credit balance in APIC
- debit balance in common stock
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