Question
A company declared a $0.55 per share cash dividend.The company has 200,000 shares authorized, 190,000 shares issued, and 8,000 treasury shares. The journal entry to
A company declared a $0.55 per share cash dividend.The company has 200,000 shares authorized, 190,000 shares issued, and 8,000 treasury shares. The journal entry to record the dividend declaration is:
Multiple-Choice (2 Points)
- A.
Debit Share Dividends $100,100; credit Ordinary Share Dividend Distributable $100,100.
- B.
Debit Share Dividends $104,500; credit Ordinary Share Dividend Distributable $104,500.
- C.
Debit Share Dividends $110,000; credit Ordinary Share Dividend Distributable $110,000.
- D.
Debit Ordinary Share Dividend Distributable $104,500; credit Cash $104,500.
- E.
Debit Ordinary Share Dividend Distributable $100,100; credit Cash $100,100.
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