Homework Answers
On the Date of the Payment of the Cash Dividend, the Journal Entry :
Dividends Payable A/c. Dr.
To Cash Account
Explanation :
This is so because, When the dividends are paid, cash goes out of the business and as per the Real Account Principle - When the asset decreases, It shall be Credited.
Similarly, When the Liability is decreased, it shall be credited.
Hence, the Dividends Payable shall be debited and the Cash Account shall be Credited.
Answer :
Therefore, the Option is "C".
Add Answer to:
On the date of payment for a cash dividend, what journal entry is required? O A....
Max Fish Corporation declares a cash dividend. What will be included in the journal entry at...
Max Fish Corporation declares a cash dividend. What will be included in the journal entry at the date of declaration? Group of answer choices Credit to Dividends Payable Credit to Retained Earnings Debit to Dividends Payable Credit to Cash PreviousNext
Question 9 6 The journal entry to record the declaration of a cash dividend would include...
Question 9 6 The journal entry to record the declaration of a cash dividend would include a: debit to Retained Earnings debit to Dividend Expense debit to Dividends Payable credit to Cash Ne
required journal entries: 1. record the declaration of cash dividends. 2. record the entry on the...
required journal entries:
1. record the declaration of cash dividends.
2. record the entry on the date of record.
3. Record the payment of cash dividends.
On March 15, American Eagle declares a quarterly cash dividend of $0.095 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 216 million shares. (If no entry is E required for a particular transaction/event, select "No Journal...
1.Indicate the proper journal entry to record payment of a cash dividend previously declared: Select one:...
1.Indicate the proper journal entry to record payment of a cash dividend previously declared: Select one: a. Debit Cash, credit Dividend Payable b. Debit Dividends, credit Cash 2.A bookkeeper erroneously recorded a $7 accrual of wages payable using this journal entry: Sales Discount $7 Inventory $7 Indicate the effect of the error on Expenses, Assets, and Liabilities, respectively: Select one: a. No Error, Understated, No Error b. Overstated, No Error, Understated c. Understated, Understated, Understated d. No Error, No Error,...
Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required...
Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) July 15 Declared a cash dividend payable to common stockholders of $165,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the dividend declared on July 15. View transaction list Journal entry worksheet Record the declaration of a cash dividend payable...
Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required...
Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event. select "No journal entry required" in the first account field.) July 15 Declared a cash dividend payable to common stockholders of $167,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the dividend declared on July 15. Journal entry worksheet < 1 2 3 Record the declaration of a cash dividend...
journal Cash dividends involve three events. On the date of declaration, the directors bind the company...
journal
Cash dividends involve three events. On the date of declaration, the directors bind the company to pay the dividend. A dividend declaration reduces retained earnings and creates a current liability. On the date of record, recipients of the dividend are identified. On the date of payment, cash is paid to stockholders and the current liability is removed. Neither a stock dividend nor a stock split alters company value. However, the value of each share is less due to the...
CASH DIVIDENDS Show the effects of each transaction on the balance sheet equation, and prepare journal...
CASH DIVIDENDS Show the effects of each transaction on the balance sheet equation, and prepare journal entries to receord the transactions. Jones Corp. has 200,000 shares of stock authorized, 120,000 shares issued, and 100,000 shares outstanding. Ref. Assets Equity Liabilities Dividends Payable (+L) (a) Dividends (-SE) On August 1, Jones' Board of Directors declared a cash dividend of $0.50 per share, with a record date of September 1. The dividend will be paid on October 1. Date Account Debit Credit...
Boston Enterprises declared and paid a dividend of $11,200 this year. The entry to close the...
Boston Enterprises declared and paid a dividend of $11,200 this year. The entry to close the Dividend at the end of the year will include a debit to: Multiple Choice O Dividends and a credit to Dividends Payable for $11,200. O Dividends and a credit to Retained Earnings for $11,200. O Retained Earnings and a credit to Dividends for $11,200. C Dividends and a credit to Cash for $11,200.
July 15 Declared a cash dividend payable to common stockholders of $162,000. Aug. 15 Date of...
July 15 Declared a cash dividend payable to common stockholders of $162,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug 31 Paid the dividend declared on July 15. Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event select "No Journal entry required in the first account field.) View transaction ist Journal entry worksheet Record the declaration of a cash dividend payable...
Question 9 6 The journal entry to record the declaration of a cash dividend would include a: debit to Retained Earnings debit to Dividend Expense debit to Dividends Payable credit to Cash Ne
required journal entries:
1. record the declaration of cash dividends.
2. record the entry on the date of record.
3. Record the payment of cash dividends.
On March 15, American Eagle declares a quarterly cash dividend of $0.095 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 216 million shares. (If no entry is E required for a particular transaction/event, select "No Journal...
Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) July 15 Declared a cash dividend payable to common stockholders of $165,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the dividend declared on July 15. View transaction list Journal entry worksheet Record the declaration of a cash dividend payable...
Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event. select "No journal entry required" in the first account field.) July 15 Declared a cash dividend payable to common stockholders of $167,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the dividend declared on July 15. Journal entry worksheet < 1 2 3 Record the declaration of a cash dividend...
journal
Cash dividends involve three events. On the date of declaration, the directors bind the company to pay the dividend. A dividend declaration reduces retained earnings and creates a current liability. On the date of record, recipients of the dividend are identified. On the date of payment, cash is paid to stockholders and the current liability is removed. Neither a stock dividend nor a stock split alters company value. However, the value of each share is less due to the...
CASH DIVIDENDS Show the effects of each transaction on the balance sheet equation, and prepare journal entries to receord the transactions. Jones Corp. has 200,000 shares of stock authorized, 120,000 shares issued, and 100,000 shares outstanding. Ref. Assets Equity Liabilities Dividends Payable (+L) (a) Dividends (-SE) On August 1, Jones' Board of Directors declared a cash dividend of $0.50 per share, with a record date of September 1. The dividend will be paid on October 1. Date Account Debit Credit...
Boston Enterprises declared and paid a dividend of $11,200 this year. The entry to close the Dividend at the end of the year will include a debit to: Multiple Choice O Dividends and a credit to Dividends Payable for $11,200. O Dividends and a credit to Retained Earnings for $11,200. O Retained Earnings and a credit to Dividends for $11,200. C Dividends and a credit to Cash for $11,200.
July 15 Declared a cash dividend payable to common stockholders of $162,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug 31 Paid the dividend declared on July 15. Prepare journal entries to record the above transactions for Emerson Corporation. (If no entry is required for a transaction/event select "No Journal entry required in the first account field.) View transaction ist Journal entry worksheet Record the declaration of a cash dividend payable...
Most questions answered within 3 hours.
-
When using a relational database what makes data
formatting so important and critical to the functions...
asked 2 minutes ago -
The following temperatures show the (fictional) daily low
measured at O'Hare airport every January 1st from...
asked 22 minutes ago -
Your friend is interested in the characteristics of fast tree
planters. He searched through the records...
asked 29 minutes ago -
. 0.67 g of Ag is deposited electrolytically from
AgNO3 after a certain period of time...
asked 30 minutes ago -
assuming that the boric acid, h3po3 present at the end of the
borax tritation has a...
asked 30 minutes ago -
When a carbonate solution is acidified, carbon dioxide is
produced.
2H+(aq) + CO32-(aq) → H2O(l) +...
asked 1 hour ago -
A reaction has the following rate law: Rate =
kr[A][B]2. In experiment 1, the
concentrations of...
asked 1 hour ago -
king owns a large number of public pay phones. as rhe use of
payphones decline deamatically,...
asked 1 hour ago -
3.7 - A book is sitting on a table. The mass of the book
is 1...
asked 1 hour ago -
Which term describes the process by which a single strand of DNA
serves as a template...
asked 1 hour ago -
LAB FOOD DRING
ANSWER THE QUESTIONS:
Q1. What value is the moisture content versus time and...
asked 1 hour ago -
You are told that an object has zero acceleration. Two forces on
the object are: F_1...
asked 1 hour ago