Question 12 12) A corporation declares a dividend of SO.50 per share on 10,000 s

Question

Question 12 12) A corporation declares a dividend of SO.50 per share on 10,000 shares of common stock. Which of the following wo the declaration? A) Retained Earnings would be debited for $5,000 B) Paid-in Capital in Excess of Par-Common would be credited for $5,000 C) Retained Earnings would be credited for $5.000 D) Dividends Payable-common would be debited for S5 000 0 Question 13 13) Which of the following would be included in the entry to record the payment of a previously declared dividend of so 25 per common stock?

Explanation / Answer

Answer to 12 is A

When company declares dividend the entry would be as under:

All other options provided are incorrect.

Accounts and Tittles Debit Credit Retained Earnings (0.5 x 10000) 5000      Dividend Payable 5000

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.