A company may repurchase their own shares for the following reasons except: A) the company needs the repurchased shares to fulfill future share issuance commitments B) the company needs more financing C) management wants to avoid a takeover by an outside party D) the purchase may help support the share's current market price by decreasing the supply of shares available to the public A retirement of common shares: A) increases the number of common shares outstanding B) decreases the number of shares authorized C) increases share capital and total shareholders' equity D) decreases share capital and total shareholders' equity When a cash dividend is declared: A) the Cash account is debited B) the Cash account is credited C) the Retained Earnings account is debited D) the Retained Earnings account is credited A cash dividend becomes a legal liability of the corporation on the: A) date of payment B) date of declaration C) date of record D) date of distribution Glow Corporation has 50,000 shares of preferred shares outstanding, with annual dividends paid at the rate of $1.50 per share. Glow also has 100,000 shares of common shares outstanding. If Glow declares a $250,000 dividend in 2020 , cach outstanding share of common shares would receive: A) $1.17 B) $1.75 C) $1.50 D) $2.50 The payment of a cash dividend previously recorded: A) reduces shareholders' equity and reduces assets B) increases liabilities and increases assets C) reduces liabilities and reduces assets D) increases shareholders' equity and reduces liabilities The entry to record the payment of a cash dividend previously declared includes a: A) debit to Retained Earnings B) credit to Retained Earnings C) credit to Dividends Payable D) debit to Dividends Payable