Question

entry to record common stock dividend's date of distribution includes bit to common stock distributable credit to cash b. c, debit to cash dividends payable d. no entry is made on the date of distribution. 8. Given the following events, which is the last to occur? a. date of record b. date of declaration dae of n f Directors meting d. date of Board of Directors meeting Questions 9 and 10 The Able Corporation has 50,000 shares of S8 par value common stock outstanding. The folowving transactions occurred during the year: March 1 – Declared a .50 per share cash dividend to stockholders of record on March 20. April 3 – Paid the cash dividend. 9. The entry to record the transaction of April 3 would be: a. Retained Earnings Cash Dividends Payable Retained Earnings Cash b. Cash Dividends Payable Cash Dividends Payable Retained Earnin 25,000 25,000 25,000 25,000 25,000 25,000 c. d. 10. What is the entry on the date of record? a. Cash Dividends Payable b. Retained Earnings c. Cash Dividends Payable d. No entry 25,000 Cash 25,000 25,000 Cash 25,000 25,000 Returned Earnings 25,000