The entry to pay a previously declared dividend of $1.50 per share on 5,000 outstanding common shares requires a:
A) debit to Cash for $7,500
B) credit to Dividends Payable for $7,500
C) debit to Retained Earnings for $7,500
D) debit to Dividends Payable for $7,500
Correct Answer:
Verified
Q85: The entry on the payment date for
Q86: A dividend is declared by the:
A) president
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Q91: Cash dividends become a liability of the
Q92: The dividends payable liability of the corporation
Q93: In order to receive a cash dividend,an
Q94: Dividends payable is classified as a current
Q95: Dividends become a liability of the corporation:
A)
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