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Margo Corporation declared a cash dividend of $80,000 on April 1, 2020, payable to shareholders on April 15, 2020. Margo Corporation announced to shareholders that
Margo Corporation declared a cash dividend of $80,000 on April 1, 2020, payable to shareholders on April 15, 2020. Margo Corporation announced to shareholders that 80% of the dividend amount was a return of capital. Upon recording the required entry on April 1, 2020, Margo Corporation would record: An increase in liabilities for $64,000. A decrease to retained earnings of $64,000. A decrease in assets of $80,000. A decrease in stockholders' equity of $80,000 $46,613
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