Assuming that you wanted to know how to journal this, it would be :
Dec. 31
Debit Credit
Income Summary $ 188,000
Retained Earning $ 188,000
The answer is B because I done my research online and I did my calculations and according to my calculations that’s the andwer
Answer:
Option (b) is correct.
Explanation:
The Journal entries are as follows:
(i) On November 1, 2015
Retained Earnings [$3 × 20,000] A/c Dr. $60,000
To Dividend Payable $60,000
(To record the declaration of dividend)
(ii) On November 30, 2015
Dividend Payable A/c Dr. $60,000
To cash A/c $60,000
(To record the payment of dividend)
Answer:
C. The Fed should target the money supply, not the interest rate, and that it should adopt the monetary growth rule.
