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Dovator [93]
3 years ago
11

Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 20,000 shares authorized, 9,00

0 shares issued, and 8,000 shares of common stock outstanding. The journal entry to record the dividend declaration is ______.
Multiple Choice:
O Debit Common Dividends Payable $4,500; credit Cash $4,500
O Debit Common Dividends Payable $4,000; credit Cash $4,000.
O Debit Retained Earnings $4,000; credit Common Dividends Payable $4,000.
O Debit Retained Earnings $4,500; credit Common Dividends Payable $4,500.
O Debit Retained Earnings $10,000; credit Common Dividends Payable $10,000.
Business
1 answer:
hichkok12 [17]3 years ago
8 0

Answer:

O Debit Retained Earnings $4,000; credit Common Dividends Payable $4,000.

Explanation:

Dividend declared = $0.5 per share

Total Authorized shares = 20,000 shares

Total Issued Shares = 9,000 shares

Total Outstanding shares = 8,000 shares

As outstanding shares are only eligible shares for the dividend payment.

Total Dividend Payment = $0.5 per share x 8000 shares

Total Dividend Payment = $4000

Journal Entry for this event

                                 Dr.             Cr.

Retained Earning    $4,000

Common Dividend Payable   $4,000

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lack of property rights diminish economic growth. diminish economic growth. increases productivity. increases productivity. enco
nikdorinn [45]

The answer is diminish economic growth.

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Thus this is the meaning of diminish economic growth.

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Firlakuza [10]

Answer:

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Explanation:

When goods are sold to a customer, the cost of goods sold account is debited by the same value that the finished goods inventory is credited.

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Cash                                         $1,200

Sales Revenue                                             $1,200

Cost of Goods Sold                $1,000

Finished Goods Inventory                           $1,000

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A business model is essentially a specification outlining how a company achieves its goals.

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