A company declared a $0.5 per share cash dividend. The company has 210,000 shares authorized, 200,000 shares
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Question:
A company declared a $0.5 per share cash dividend. The company has 210,000 shares authorized, 200,000 shares issued and outstanding. The journal entry to record the payment of the dividends is:
Select one:
a. Debit Cash Dividends 105,000; Credit Dividends Payable 105,000
b. Debit Retained Earnings 100,000; Credit Cash Dividends 100,000
c. Debit Dividends Payable 100,000; credit Cash 100,000.
d. Debit Dividends Payable 95,000; Credit Cash 95,000.
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
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