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4 years ago

When previously declared cash dividends on common stock are paid which account would the corporation debit?

Business

1 answer:

garri49 [273]4 years ago

4 0

Answer:

Explanation:

Financial Statements depicts the financial position of a firm at a particular point of time or specified date. The users of financial statements use various types of analysis to understand or compare the current financial statements of the company to prior years or with those of the competitors.

The journal entry on declaration of dividend would lead to a debit to retained earnings and credit to dividends payable.

No journal entry is passed on the date of recording dividend.

Later, on the date of payment of dividend would lead to a debit to dividends payable and credit to cash account.

The journal entries have been shown below:

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1 year ago

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Answer:

The answer options for this question would be the following:

A) Intrafunctional scope

B) Intraoperation scope

C) Interfunctional scope

D) Intercompany scope

The correct answer is B) Intraoperation scope .

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3 years ago

Jurica Corporation has two production departments, Forming and Customizing. The company uses a job-order costing system and comp

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Answer:

D. $7.30 per machine hour

Explanation:

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= ($100,700 + (19,000 × $2)) ÷ 19,000

= ($100,700 + $38,000) ÷ 19,000

= $138,700 ÷ 19,000

= $7.30 per machine hour

So, for computing the Overhead Per Machine Hour we simply applied the above formula.

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3 years ago

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Question attached

Answer and Explanation:

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