2 1 Fetzer Company declared a $O 10 per share cash dividend. The company has 300

Question

2 1 Fetzer Company declared a $O 10 per share cash dividend. The company has 300,000 shares authorized, 285,000 shares issued, and 12.000 shares in treasury stock. The journal entry to record the payment of the dividend is Multiple Choice 2 0201 27 Debit Common Dividends Peyable $28,500, credit Cosh $28,500 Debin Retained Earnings $30,000, credit Common Dividends Payable $30,000 Debit Retained Eamings $28.500. credt Common Dividends Payable $28.500 Debit Common Dividends Payable $27.300 credit Cash $27.300

Explanation / Answer

21.

Journal entry will be

Debit Common dividend payable $27,300 and Credit Cash $27,300

19.

ANswer is D. $105

First line of 8th question not visible

Shares issued    285,000 Less: Treasury stock    (12,000) Shares outstanding    273,000 Dividend @ $0.10 per share (273,000*$0.10) $ 27,300

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