Question
If company X announces that it will pay $100,000 in dividends next accounting period, which of the following is the correct journal entry for this
If company X announces that it will pay $100,000 in dividends next accounting period, which of the following is the correct journal entry for this transaction? Group of answer choices Dr. Dividends (-SE) $100,000 Cr. Dividends Payable (+L) $100,000 Dr. Retained Earnings (-SE) $100,000 Cr. Cash (+L) $100,000 Dr. Retained Earnings (-SE) $100,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Accounting
Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,
Volume 1, 2nd canadian Edition
176509739, 978-0176509736, 978-0176509743
