Asked by
David Raul Salinas
on Nov 15, 2024Verified
Declared a cash dividend.
Debit ________ Credit ________
A) Cash
B) Dividends payable
C) Preferred stock
D) Common stock
E) Common Stock dividend distributable
F) Paid-in capital in excess of par value-common
G) Paid-in capital in excess of par value - preferred
H) Paid-in capital from treasury stock
I) Retained earnings
J) Treasury stock
K) Paid-in capital in excess of par value-Stock dividend
Cash Dividend
A payment made by a company out of its profits to shareholders, usually in the form of cash.
Dividends Payable
A liability on a company's balance sheet representing the amount of declared dividends that are owed to shareholders but not yet paid.
Retained Earnings
The portion of net income that is retained by the corporation rather than distributed to its owners as dividends.
- Formulate entries in the journal for transactions including cash dividends, stock dividends, and treasury stocks.
Verified Answer
JW
Learning Objectives
- Formulate entries in the journal for transactions including cash dividends, stock dividends, and treasury stocks.