Multiple Choice
Use the following information for questions
On July 15, 2015, the board of directors of George Easton Limited declared a cash dividend of $0.50 per share on 84,000 common shares.The dividend is to be paid on August 15, 2015, to shareholders of record on July 31, 2015.
-The journal entry to be recorded on July 15, 2015, will include a
A) debit to Dividends Payable.
B) debit to Cash Dividends.
C) credit to Cash.
D) credit to Retained Earnings.
Correct Answer:
Verified
Correct Answer:
Verified
Q12: The issue of common shares affects both
Q20: Dividends in arrears are dividends on<br>A)cumulative preferred
Q32: Companies reporting under ASPE must disclose earnings
Q35: If the statement of financial position is
Q37: Use the following information for questions <br>On
Q39: Indicate how shareholders' equity is presented in
Q85: Preferred shares are generally issued to appeal
Q92: All of the following are normally found
Q116: Use the following information for questions <br>Fair
Q129: Shareholders directly elect the corporation's<br>A)president.<br>B)board of directors.<br>C)controller.<br>D)auditor.<br>