A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12,000 common shares outstanding. The journal entry to record the payment of the cash dividend is:
A. Debit Retained Earnings $12,000; credit Common Dividend Payable $12,000.
B. Debit Common Dividend Payable $12,000; credit Retained Earnings $12,000.
C. Debit Dividend Expense $12,000; credit Cash $12,000.
D. Debit Common Dividend Payable $12,000; credit Cash $12,000.
E. Debit Dividend Expense $12,000; credit Common Dividend Payable $12,000.
Answer: D
You might also like to view...
In the ATM model, the demand for money depends on
A. the nominal interest rate and the money supply. B. the nominal interest rate and the ongoing rate of inflation. C. the nominal interest rate, the cost of obtaining cash, the probability of loss or theft, and the money supply. D. the nominal interest rate, the cost of obtaining cash, the probability of loss or theft, and the amount of spending.
The selection decision will come down to which to factors?
a. how choosy the company can be and how well employees’ performance can be predicted b. how much advertising was done and what the response rate was c. how pushy the candidate is and how receptive the selection committee is d. how long the company has been looking for an employee and how long the candidate has been looking for a job
If a company’s production process is not aligned with the volume and variety demanded of the product, then the company ______.
A. has made a bad decision with regard to choice of process B. needs to stop production C. needs to find a new market for its product D. needs to offshore its production
For an employee manual to be considered part of the employment contract, the employee must be told about it at what time?
A) At the time of hiring B) Immediately after being hired C) At any time during the course of employment D) Either A or B E) The employee manual cannot be part of the employment contract