Homework Answers
The correct answer is 'Option A' i.e., Dividends, Cash
| Date | General Journal | Debit | Credit |
| Dividends a/c | ------- | ||
| To Cash a/c | ------- | ||
| [Being Dividends declared and paid] |
Explanation:
- when dividends declared, obligation to pay dividend arises which
is a liability for business normally have a credit balance.
- So at the time of payment when the liability got discharged, the
liability account (dividends) should be debited.
- correspondingly, the cash is being paid and it's goes out from
the business, should be credited.
--------------*-------------
DO VOTE, ALL THE BEST
Add Answer to:
The declaration and payment of dividends is recorded as a debit to and a credit to...
The payment on a note is recorded, by the maker or payer, as a A. debit,...
The payment on a note is recorded, by the maker or payer, as a A. debit, Cash; credit, Notes Payable; credit, Interest Expense. B. debit, Cash; credit, Notes Receivable; credit, Interest Income. C. debit, Notes Receivable; debit, Interest Income; credit, Cash. D. debit, Notes Payable; debit, Interest Expense; credit, Cash.
If you debit Prepaid Insurance, you most likely will: O A. credit Cash. O B. credit...
If you debit Prepaid Insurance, you most likely will: O A. credit Cash. O B. credit Insurance Expense. O C. credit Capital. O D. credit Fees Earned. Sue's Book Review billed customers $550. The journal entry to record this transaction is: O A. Editing Fees, debit $550; Riley, Capital, credit $550 O B. Cash, debit $550; Riley, Accounts Receivable, credit $550 O C. Accounts Payable, debit $550; Editing Fees, credit $550 OD. Accounts Receivable, debit $550; Editing Fees, credit $550...
20. The sale of common shares should be recorded as a (a) debit to Retained Earnings...
20. The sale of common shares should be recorded as a (a) debit to Retained Earnings and a credit to Cash. (b) debit to Cash and a credit to Retained Earnings. (c) debit to Cash and a credit to Common Shares. (d) debit to Common Shares and a credit to Cash. 21. Dividends in arrears on cumulative preferred shares (a) never have to be paid, even if common dividends are paid. (b) must be paid before common shareholders can receive...
When a company pays $1,900 dividends to its stockholders, the transaction should be recorded as: Multiple...
When a company pays $1,900 dividends to its stockholders, the transaction should be recorded as: Multiple Choice O Debit Dividends; Credit Cash. Debit Dividends, credit Accounts Payable. o o Debit Cash, credit Dividends. Debit Retained Earnings, credit Dividends.
Refer to the following trial balance. Credit Debit $19,000 43,000 65,000 15,000 320,000 Cash Accounts Receivable...
Refer to the following trial balance. Credit Debit $19,000 43,000 65,000 15,000 320,000 Cash Accounts Receivable Merchandise Inventory Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends $3,000 25,000 293,000 22,000 6,000 O A. $129,000 O B. $119,000 O C. $125,000 OD. $265,000
The following errors took place in journalizing and posting transactions! a. Dividends of $5,000 were recorded...
The following errors took place in journalizing and posting transactions! a. Dividends of $5,000 were recorded as a debit to Office Expense and a credit to Cash b. Accounts receivable payment for $7.800 was recorded as a debit to Cash and a credit to Fees Earned. Required: Journalize the entries to correct the errors. Refer to the Chart of Accounts for exact wording of account titles
Which of the statements of the rules of debit and credit is true? O A. Increase...
Which of the statements of the rules of debit and credit is true? O A. Increase Accounts Payable with a credit and the normal balance is a credit OB. Decrease Accounts Receivable with a credit and the normal balance is a credit. OC. Decrease Cash with a debit and the normal balance is a debit. OD. Increase Revenue with a debit and the normal balance is a debit. Click to select your answer. Tyne here to search Which type of...
For each account, identify whether the changes would be recorded as a debit (DR) or credit...
For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR). a. Increase to Accounts Receivable b. Decrease to Unearned Revenue c. Decrease to Cash d. Increase to Interest Expense e. Increase to Salaries Payable
A company uses perpetual inventory system and recorded the following entry: Debit Credit Accounts Payable 2500...
A company uses perpetual inventory system and recorded the following entry: Debit Credit Accounts Payable 2500 Cash 2450 Merchandise Inventory 50 This entry reflects a Select one: a. Return. b. Payment of the accounts payable and recognition of a cash discount taken. c. Sale. d. Purchase.
11) Which of the following entries records the cash payment of an Account Payable? a. debit...
11) Which of the following entries records the cash payment of an Account Payable? a. debit Cash; credit Accounts Payable b. debit Accounts Receivable; credit Cash c. debit Cash; credit Expense d. debit Accounts Payable; credit Cash 12) Haselhof Company purchases equipment for $2,400 and supplies for $700 from Behrman Co. for $3,100 cash. The entry for this transaction will include a a. debit to Equipment $2,400 and a debit to Supplies Expense $700 for Behrman. b. credit to Cash...
If you debit Prepaid Insurance, you most likely will: O A. credit Cash. O B. credit Insurance Expense. O C. credit Capital. O D. credit Fees Earned. Sue's Book Review billed customers $550. The journal entry to record this transaction is: O A. Editing Fees, debit $550; Riley, Capital, credit $550 O B. Cash, debit $550; Riley, Accounts Receivable, credit $550 O C. Accounts Payable, debit $550; Editing Fees, credit $550 OD. Accounts Receivable, debit $550; Editing Fees, credit $550...
20. The sale of common shares should be recorded as a (a) debit to Retained Earnings and a credit to Cash. (b) debit to Cash and a credit to Retained Earnings. (c) debit to Cash and a credit to Common Shares. (d) debit to Common Shares and a credit to Cash. 21. Dividends in arrears on cumulative preferred shares (a) never have to be paid, even if common dividends are paid. (b) must be paid before common shareholders can receive...
When a company pays $1,900 dividends to its stockholders, the transaction should be recorded as: Multiple Choice O Debit Dividends; Credit Cash. Debit Dividends, credit Accounts Payable. o o Debit Cash, credit Dividends. Debit Retained Earnings, credit Dividends.
Refer to the following trial balance. Credit Debit $19,000 43,000 65,000 15,000 320,000 Cash Accounts Receivable Merchandise Inventory Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends $3,000 25,000 293,000 22,000 6,000 O A. $129,000 O B. $119,000 O C. $125,000 OD. $265,000
The following errors took place in journalizing and posting transactions! a. Dividends of $5,000 were recorded as a debit to Office Expense and a credit to Cash b. Accounts receivable payment for $7.800 was recorded as a debit to Cash and a credit to Fees Earned. Required: Journalize the entries to correct the errors. Refer to the Chart of Accounts for exact wording of account titles
Which of the statements of the rules of debit and credit is true? O A. Increase Accounts Payable with a credit and the normal balance is a credit OB. Decrease Accounts Receivable with a credit and the normal balance is a credit. OC. Decrease Cash with a debit and the normal balance is a debit. OD. Increase Revenue with a debit and the normal balance is a debit. Click to select your answer. Tyne here to search Which type of...
For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR). a. Increase to Accounts Receivable b. Decrease to Unearned Revenue c. Decrease to Cash d. Increase to Interest Expense e. Increase to Salaries Payable
Most questions answered within 3 hours.
-
•Describe the basic structure of collagen monomers •Explain how
amino acid composition of collagen contributes to...
asked 1 hour ago -
Compute the sample correlation coefficient
r for each of the following data sets.
(Use 3 decimal...
asked 1 hour ago -
5a. What are the advantages and disadvantages of Proxy ARP?
b. What is the TTL field...
asked 1 hour ago -
An ice cube (density = 900[kg/m3]) with a side length of
2.54[cm] is held by a...
asked 3 hours ago -
would you say that leaders in the international context are born
or made? That is, can...
asked 3 hours ago -
Instructions
Read the Digital Trends article "Solid state drives are speedier
than hard disk drives. Are...
asked 3 hours ago -
A multiple-choice test consists of 29 questions with possible
answers of a, b, c, d. Estimate...
asked 3 hours ago -
Question 1: Ethanol is the active ingredient of alcoholic
beverages. It is also s a possible...
asked 3 hours ago -
In the process of a simple distillation, the substances in the
still head tube are in...
asked 3 hours ago -
In a normal distribution with mean 3 and standard deviation of
7, what are the upper...
asked 4 hours ago -
A big block stone with mass M explodes and splits in two pieces
with mass 0.40M...
asked 4 hours ago -
Discuss the role of women in the late 19th century. In what ways
were the roles,...
asked 4 hours ago