Homework Answers
Treasury stock is not entitled to dividend payments.
So, total number of shares entitled to dividend payments are = 17,000 - 6,000 = 11,000 shares
So, dividends declared = $0.50 per share
Total Dividends = $11,000 shares * $0.50 = $5,500
Dividends account..................Debit $5,500
To, Dividends Payable account. credit $5,500
Option 'A' is correct
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