Ramos Repair Company paid $750 in dividends to its stockholders. How does this transaction affect Ramos Repair Company's accounting equation?
A) Increase Assets (Accounts Receivable) and decrease Assets (Cash)
B) Decrease Assets (Cash) and decrease Stockholders' Equity (Dividends)
C) Decrease Assets (Cash) and decrease Liabilities (Accounts Payable)
D) Increase Assets (Cash) and decrease Stockholders' Equity (Dividends)
Correct Answer:
Verified
Q73: Equipment with an estimated market value of
Q84: If total liabilities decreased by $46,000 during
Q90: Goods purchased on account for future use
Q91: The asset created by a business when
Q94: Revenues are reported when
A) a contract is
Q97: Which of the following is not a
Q97: Which of the following is not an
Q99: How does receiving a bill to be
Q105: Declaring and paying cash dividends
A) increase expenses
B)
Q107: Liabilities are reported on the
A) income statement
B)
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