Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The journal entry to pay a cash dividend is to: debit Retained Earnings; credit Dividends Payable. debit Dividends Payable; credit Retained Earnings. debit Retained Earnings;

The journal entry to pay a cash dividend is to:

debit Retained Earnings; credit Dividends Payable.

debit Dividends Payable; credit Retained Earnings.

debit Retained Earnings; credit Cash.

debit Dividends Payable; credit Cash.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: John J Wild, Ken W. Shaw, Barbara Chiappetta

7th edition

1260482936, 978-1260482935

More Books

Students also viewed these Accounting questions

Question

13. Give four examples of psychological Maginot lines.

Answered: 1 week ago