Question 17

Use the following information to answer the question(s) below. The board of directors of Irondale Corporation declared a cash dividend of $2.50 per share on 57,000 shares of common stock on June 14, 20xx. The dividend is to be paid on July 15, 20xx, to shareholders of record on July 1, 20xx.

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The proper entry to record the declaration on June 14, 20xx, will include a

Question 17 options:

A) Debit to Retained Earning

C) Credit to Retained Earnings

D) Credit to Cash Dividends Declared (which is an equity account closed into retained earnings at year end)

A bond with a face value of $100,000 has a current price quote of 102 . This bond is selling for

Question options:

1)

$102,250

2)

$102,025

3)

$122,500

4)

$100,225