sahre dividends
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When sahre dividends of different class are received:
A. No formal entry is made only memo entry
B. A new investment account is debited and dividend income is credited
C. A new investment account is debited and the original investment is credited
D. Cash is debited and dividend income is credited
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- Which of the following is a permanent account? a. Dividends Distributed b. Allowance for Doubtful Accounts c. Interest Expense d. SalesA journal entry for cash dividends is not made on the ________.A. date of record.B. An entry is made on all of these dates.C. date of paymentD. date of declarationFor cash dividends, the journal entry on the date of recorda. debits Retained Earnings and credits Dividends Payable.b. debits Dividends Payable and credits Cash.c. debits Dividends and credits Cash.d. No journal entry is required on the date of record
- Which of the following is a permanent account? A. dividends distributed B. allowance for doubtful accounts C. internet expense d. salesThe journal entry to record the amount receivable when a call is made by the company is: Select one: a. DR Allotment CR Share capital b. DR Cash Trust CR Call c. DR Call CR Share capital d. DR Share capital CR CallIdentify whether each of the following accounts would be considered a permanent account (yes/no) and which financial statement it would be reported on (Balance Sheet, Income Statement, or Retained Earnings Statement). A. Common Stock B. Dividends C. Dividends Payable D. Equipment E. Income Tax Expense F. Income Tax Payable G. Service Revenue H. Unearned Service Revenue I. Net Income
- What is the impact on the accounting equation when an accounts receivable is collected? A. both sides increase B. both sides decrease C. only the Asset side changes D. the total of neither side changesWhich of the following accounts is increased by a debit? A. Common Stock B. Accounts Payable C. Supplies D. Service RevenueWhat is the impact on the accounting equation when stock is issued, in exchange for assets? A. both sides increase B. both sides decrease C. only the Asset side changes D. neither side changes
- With regard to cash dividends, an entry is not made on the A.date or payment and date of declaration. B.date of record. C.date of declaration. D.date of payment.Liabilities are Select one: O a. deferred credits that are recognized and measured in conformity with generally accepted accounting principles. O b. any accounts having credit balances after closing entries are made. O c. obligations to transfer ownership shares to other entities in the future. O d. present obligations arising from past events and results in an outflow of resources.What is the impact on the accounting equation when a payment of accountable payable is made? what is the impact on accounting equation when an account receivable is collected? what is the impact on the accounting equation when a sell occurs? what is the impact on the accounting equation when stock is issued, in exchange for assets? which of the following accounts is increased by a debit? which of the following camp do not increase with a debit entry? which of the following pairs increase with credit entries? which of the following pairs of accounts are impacted the same with debits and credits? which of the following count normally have a debit balance? what type of account is prepaid insurance?
