At the end of the year a company declared a final cash dividend out of its retained earnings. The correct journal entry to record this declaration is:
A) DR Cash; CR Final dividend payable
B) DR Retained earnings; CR Final dividend payable
C) DR Final dividend payable; CR Cash
D) DR Share capital; CR Final dividend payable
Correct Answer:
Verified
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Q50: Which statement relating to reserves is incorrect?
A)
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