Question
Which of the following is the appropriate journal entry to record the declaration of cash dividends? debit Retained Earnings; credit Cash debit Cash Dividends Payable;
Which of the following is the appropriate journal entry to record the declaration of cash dividends?
| debit Retained Earnings; credit Cash | ||
| debit Cash Dividends Payable; credit Cash | ||
| debit Paid-in-Capital; credit Cash Dividends Payable | ||
| debit Cash Dividends; credit Cash Dividends Payable |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The Management System Auditors Handbook
Authors: Joe Kausek
1st Edition
087389670X, 978-0873896702
