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On September 1, Year 1, Orville Corporation has unrestricted Retained Earnings of $7,400,000, Appropriated Retained Earnings of $4,400,000, Cash of $8,900,000, and Accounts Payable
On September 1, Year 1, Orville Corporation has unrestricted Retained Earnings of $7,400,000, Appropriated Retained Earnings of $4,400,000, Cash of $8,900,000, and Accounts Payable of $900,000. What is the maximum amount that can be used for cash dividends? Multiple Choice $3,000,000 $7,400,000 $8,900,000 $8,800,000
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Financial Accounting
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
11th edition
978-0134065830, 134065832, 134127625, 978-0134127620
