The entry to record the declaration of a cash dividend would include
a. No entry is required.
b. a credit to Retained Earnings.
c. a debit to Dividends Payable.
d. a debit to Dividends.
d
You might also like to view...
Which of the following involves short production runs, continuous flow of operations, cellular manufacturing, reduced floor space, and reduced WIP?
a. product lifecycle management b. throughput time c. push manufacturing d. pull manufacturing
Which of the following accounts would appear on an adjusted trial balance but probably would not appear on a trial balance?
A) Supplies Expense B) Accounts Payable C) Service Revenue D) Cash
Section 2-306 of the UCC expressly disallows output contracts in the sale of goods
a. True b. False Indicate whether the statement is true or false
The following income statement was prepared by Case Company for Year 2:Sales$ 100,000Cost of goods sold56,500Gross margin43,500Selling and administrative expense26,000Interest expense5,000Total expenses31,000Income before taxes12,500Income tax expense4,000Net income$ 8,500Required:Perform vertical analysis for Case Company's Year 2 income statement.
What will be an ideal response?