For cash dividends,the journal entry on the date of record is:
A) non-existent.No journal entry is required on the date of record.
B) debit Retained Earnings and credit Dividends Payable.
C) debit Dividends and credit Cash.
D) debit Dividends Payable and credit Cash.
Correct Answer:
Verified
Q78: When treasury stock is purchased,accountants record treasury
Q79: A company buys treasury stock for $10
Q80: On February 1,United Delivery Services reports Common
Q81: The date on which a cash dividend
Q82: How does the declaration of a cash
Q84: Wetzel,Inc.has 20,000 shares of cumulative preferred stock
Q85: The authority to declare a dividend lies
Q86: For cash dividends,no journal entry is made
Q87: A debit balance in the Retained Earnings
Q88: A 2-for-1 stock split will decrease total
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents