Question

When the board declares dividends, the correct journal will be Select one a. Dr. Dividends Expense, Cr. Dividends Payable. b. Dr. Dividend Declared, Cr. Credit Cash. c. Dr. Dividends Declared, Cr. Dividends Payable. d. Dr. Dividends Receivable, Cr. Dividends Revenue.

          When the board declares dividends, the correct journal will be
Select one
a. Dr. Dividends Expense, Cr. Dividends Payable.
b. Dr. Dividend Declared, Cr. Credit Cash.
c. Dr. Dividends Declared, Cr. Dividends Payable.
d. Dr. Dividends Receivable, Cr. Dividends Revenue.

When the board declares dividends, the correct journal will be
Select one
a. Dr. Dividends Expense, Cr. Dividends Payable.
b. Dr. Dividend Declared, Cr. Credit Cash.
c. Dr. Dividends Declared, Cr. Dividends Payable.
d. Dr. Dividends Receivable, Cr. Dividends Revenue.

Added by Gabriel A.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Akash M

12/11/2023

Step 1

Step 1: When the board declares dividends, it means that the company has a liability to pay out the dividends to its shareholders in the future. Show more…

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When the board declares dividends, the correct journal entry will be: Select one Oa. Dr. Dividends Expense, Cr. Dividends Payable Ob. Dr. Dividend Declared, Cr. Credit Cash Oc. Dr. Dividends Declared, Cr. Dividends Payable Od. Dr. Dividends Receivable, Cr. Dividends Revenue