Explanation:
The journal entries are as follows
a. Retained earnings A/c Dr $300,000 (600,000 shares × $0.50)
To Dividend payable A/c $300,000
(Being the dividend is declared)
b. No journal entry is required
c. Dividend payable A/c $300,000
To Cash A/c $300,000
(Being the dividend is paid for cash is recorded)
Answer: a. $ 0
Explanation:
The check is only payable if the amount in words and amount in figures matches .In this case since they do not match the check is not payable
Answer: a constant standard of living
Explanation:
