Homework Answers
Answer :
Option a: is incorrect: Dividends are shown in income statement.
Explanation, Dividends are distribution of profits and.
The other options are correct
B. Dividend account generally will have debit balance at the end it will setoff against reatined earnings
C. Dividends are distribution to stake holders it's a correct statement
D. Dividends reduce stake holders equity and it's left side in account increase its a correct statement.
Add Answer to:
Which statement is incorrect? O Dividends are shown on the income statement. The Dividends account has...
Question 25 Which statement is incorrect? Dividends represent a distribution by a corporation to its stockholders....
Question 25 Which statement is incorrect? Dividends represent a distribution by a corporation to its stockholders. Dividends reduce stockholders' equity, thus the dividends account increases on the left side. The dividends account has a normal debit balance. Dividends are shown on the income statement. We were unable to transcribe this image
(TCO E) Which of the following describes the normal balance and classification of the dividends account?...
(TCO E) Which of the following describes the normal balance and classification of the dividends account? O Credit, expense O Debit, stockholders' equity O Debit, expense O Credt,stockholders' eoquity
Identify the statement below that is incorrect Multiple Choice o The normal balance of accounts receivable...
Identify the statement below that is incorrect Multiple Choice o The normal balance of accounts receivable is a debit. o The normal balance of dividends is a debit o The normal balance of unearned revenues is a credit. o The normal balance of an expense account is a credit. o The normal balance of the common stock account is a credit
Which of the following is true about withdrawal (distribution)? The withdrawal (distribution) account is a contra-equity...
Which of the following is true about withdrawal (distribution)? The withdrawal (distribution) account is a contra-equity account and has a normal debit balance. o withdrawal (distribution) are classified as expenses and reduce net income. The withdrawal (distribution) account is an equity account, therefore listed on the Balance Sheet. The withdrawal (distribution) account is used when cash is withdrawn from the bank to pay expenses.
What type of account is dividends? O Real Nominal O Balance Sheet Income Statement
What type of account is dividends? O Real Nominal O Balance Sheet Income Statement
Which of the following statement is incorrect? O A) If note payable increases, it is a...
Which of the following statement is incorrect? O A) If note payable increases, it is a credit O B) If supplies inventory increases, it is a debit O c) If expense increases, it is a debit O D) If retained earnings increase, it is a debit Previous Page Next Page Page 2 of 10
12. Under the new method of accounting, service revenues are reported on the income statement in...
12. Under the new method of accounting, service revenues are reported on the income statement in the period in which an agreement is made on cash is received the services are performed 13. A sale is made with credit terms that allow the customer to pay in 30 days. Under the accrual method of accounting the account to be credited at the time of the sale is Accounts Receivable Cash Sales 14. When the company receives the money from its...
Which of the following is true of dividends? O A. Dividends increase assets and decrease total...
Which of the following is true of dividends? O A. Dividends increase assets and decrease total stockholders' equity of a corporation. O B. Dividend payments increase stockholders' equity O C. Dividend payments decrease paid-in capital O D. Dividends are a distribution of cash, stock, or other property to stockholders Click to select your answer 28 MacE esc 名。 FI F2 F3 F4 F5 3
On which financial statement(s) can you find "income before income taxes"? Balance sheet Income Statement and...
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Which of the following statements is not accurate? Net income from the income statement will increase total stockholder’s equity on the statement of retained earnings Net loss from the income statement will decrease total stockholder’s equity on the statement of retained earnings Dividends reduce retained earnings-? Additional investment in the company increases retained earnings All of the following accurately describe the balance sheet except… Reflects profitability of operations Is an expanded report of the accounting equation listing assets, liabilities, and...
Question 25 Which statement is incorrect? Dividends represent a distribution by a corporation to its stockholders. Dividends reduce stockholders' equity, thus the dividends account increases on the left side. The dividends account has a normal debit balance. Dividends are shown on the income statement. We were unable to transcribe this image
(TCO E) Which of the following describes the normal balance and classification of the dividends account? O Credit, expense O Debit, stockholders' equity O Debit, expense O Credt,stockholders' eoquity
Identify the statement below that is incorrect Multiple Choice o The normal balance of accounts receivable is a debit. o The normal balance of dividends is a debit o The normal balance of unearned revenues is a credit. o The normal balance of an expense account is a credit. o The normal balance of the common stock account is a credit
Which of the following is true about withdrawal (distribution)? The withdrawal (distribution) account is a contra-equity account and has a normal debit balance. o withdrawal (distribution) are classified as expenses and reduce net income. The withdrawal (distribution) account is an equity account, therefore listed on the Balance Sheet. The withdrawal (distribution) account is used when cash is withdrawn from the bank to pay expenses.
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Which of the following statement is incorrect? O A) If note payable increases, it is a credit O B) If supplies inventory increases, it is a debit O c) If expense increases, it is a debit O D) If retained earnings increase, it is a debit Previous Page Next Page Page 2 of 10
12. Under the new method of accounting, service revenues are reported on the income statement in the period in which an agreement is made on cash is received the services are performed 13. A sale is made with credit terms that allow the customer to pay in 30 days. Under the accrual method of accounting the account to be credited at the time of the sale is Accounts Receivable Cash Sales 14. When the company receives the money from its...
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