Journal entries are made on the date of declaration and on the date of record date.
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Q48: Dividends are distributed from retained earnings.
Q49: If the board of directors has not
Q50: A dividend is a pro rata distribution
Q51: When the retained earnings has a debit
Q52: Income tax expense is shown on the
Q54: Income taxes only affect the income statement.
Q55: Retained earnings is a temporary account.
Q56: The primary consideration for the decision to
Q57: The amount of dividends paid is reported
Q58: Cash dividends are shown as an addition
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