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.
-
Juanita took a business trip from Houston to New York. She
worked for 4 days, then...
asked 1 minute from now -
I
have to separate 5 ions into 5 different test tubes
-> I CAN’T MAKE THE...
asked 40 seconds from now -
4. If we had
assumed the q for the calorimeter to be zero, would this have...
asked 7 minutes ago -
The following table reports real income per person for several
different economies in the years 1960...
asked 5 minutes ago -
Since the Great Recession, the trade deficit has been
decreasing
staying about the same
increasing
none...
asked 5 minutes ago -
A rigid tank contains 1.60 moles of an ideal gas. Determine the
number of moles of...
asked 9 minutes ago -
There are four different math books, six statistics and two
physics books which should be accommodated...
asked 26 minutes ago -
QUESTION 17
The Age Discrimination in Employment Act prohibits specific
employers from discriminating against persons who...
asked 25 minutes ago -
(Python) In the Unified Modeling Language, which symbol
indicates that objects of the Music class contain...
asked 29 minutes ago -
Question #2. An assest was purchased for
$100,000 on 1 January 20X5 and straight line depreciation...
asked 31 minutes ago -
You notice that the type of phone someone has and the computer
operating system they use...
asked 31 minutes ago -
You are analyzing samples under a microscope, and one sample
comes from what you suspect is...
asked 49 minutes ago