Answer:
Decrease (debit) in equity, Cash Dividends Payable (credit, liability account)
Explanation:
The journal entry to record the declaration of the cash dividends involves a decrease (debit) to Retained Earnings (a stockholders' equity account) and an increase (credit) to Cash Dividends Payable (a liability account).
(opentextbc.ca)
The major advantage of the corporate form of ownership is limited legal liability which means that the owner is limited to liability up to the tune of the amount that he invested in the company.
The corporate form of ownership means a business/organization that is operating as a legal entity, that is, it is run separate from the parties who own it.
In other word, the corporation which operates as legal entity is created for purpose of operating for profit for individuals, stockholders, shareholders etc
<u>Some </u><u>advantages </u><u>of </u><u>corporation </u><u>includes</u>
- Owners has limited liability.
- The easy transfer of ownership.
- The corporations usually lasts forever.
In conclusion, the major advantage of the corporate form of ownership is limited legal liability which means that the owner is limited to liability up to the tune of the amount that he invested in the company.
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<em>brainly.com/question/1705632</em>
Hello i did all of these it was so hard but i did it i’m so happy there are kind people like you who check on people you don’t see people like you often i really really appreciate it <3
