Question
The board of directors declared a $2 per share cash divided on common stock and the corporation had 5,000 share authorized and 4,000.00 share outstanding.
The board of directors declared a $2 per share cash divided on common stock and the corporation had 5,000 share authorized and 4,000.00 share outstanding. The journal entey required to distribute the dividends would be a :
a. debit to Cash and credit to Cash Dividends Payable.
B. debit to Cash Dividenends Payable and a credit to cash.
c. debit to Cash Dividends Payable and credit to Retained Earning.
d. debit to Retained Earning and a credit to Cash Dividends Payable.
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Horngrens Financial And Managerial Accounting The Managerial Chapters And The Financial Chapters Plus Pearson Mylab Accounting With Pearson Global Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
6th Global Edition
1292270756, 978-1292270753
