Multiple Choice
On December 1, 2013, the Board of directors of Dew Laurintis Company declared a €.60 per share dividend payable on January 3, 2014 to shareholders of record on December 16. The company had 500,000 shares authorized and 225,000 shares issued and outstanding. The journal entry made on declaration date will include
A) a debit to Cash Dividends of €135,000.
B) a credit to Cash of €135,000.
C) a credit to Ordinary Share Dividends Distributable by €300,000.
D) No entry is made on the declaration date.
Correct Answer:
Verified
Correct Answer:
Verified
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