Question
On January 15, 2009, Rockney Systems, Inc. paid a cash dividend that had been declared prior to the end of its 2008 fiscal year. The
On January 15, 2009, Rockney Systems, Inc. paid a cash dividend that had been declared prior to the end of its 2008 fiscal year. The entry to pay the dividends includes a debit to
a.
Cash and a credit to Dividends Payable.
b.
Dividends Payable and a credit to Cash
c.
Retained Earnings and a credit to Dividends Payable.
d.
Dividends Payable and a credit to Retained Earnings
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Auditing And Assurance Theory And Practice
Authors: Clifford Gomez
1st Edition
8120345665, 978-8120345669
