How does the declaration of a cash dividend affect the financial statements? How does the payment of

Question:

How does the declaration of a cash affect the financial statements? How does the payment of a cash affect the financial statements?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...