Question
Ricks Internet Corporations balance in Retained Earnings is $30,000. The board of directors directs that $15,000 be appropriated for future business expansion. This will cause
Ricks Internet Corporations balance in Retained Earnings is $30,000. The board of directors directs that $15,000 be appropriated for future business expansion. This will cause total retained earnings to A. remain at $30,000. B. increase by $15,000. C. decrease by $15,000. D. increase or decrease $5,000, as determined by the board.
Declaration of a cash dividend was recorded by debiting Operations Expense and crediting Cash. This error would cause
A. the periods end assets to be overstated. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
B. the periods end liabilities to be overstated. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
C. the periods end stockholders equity to be understated. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
D. None of the above Which of the following is the journal entry to record the declaration of a stock dividend?
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