Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

When a corporation distributes a dividend the most common form of distribution is a cash dividend. Dividends account will be decreased with a debit. Dividends

When a corporation distributes a dividend the

most common form of distribution is a cash dividend.

Dividends account will be decreased with a debit.

Dividends account will be increased with a credit.

Retained Earnings account will be directly increased with a debit.

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

Step: 3

blur-text-image

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

Financial Accounting

Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad

2nd Canadian edition

133375536, 9780133845396, 133845397, 978-0133375534

More Books

Students also viewed these Accounting questions

Question

L A -r- P[N]

Answered: 1 week ago

Question

Context, i.e. the context of the information presented and received

Answered: 1 week ago