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6 Gartner Inc. declared a $0.50 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares authorized, 22,000 shares issued, and 5,400 shares held as treasury stock. What is the entry for the dividend declaration? Multiple Choice Retained earnings 11,300 Cash dividends payable 11,300 Retained earnings 8,300 Cash 8,300 Retained earnings 11,300 Cash 11,300 Retained earnings 8,300 Cash dividends payable 8,300

6 Gartner Inc. declared a $0.50 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares authorized, 22,000 shares issued, and 5,400 shares held as treasury stock. What is the entry for the dividend declaration? Multiple Choice Retained earnings 11,300 Cash dividends payable 11,300 Retained earnings 8,300 Cash 8,300 Retained earnings 11,300 Cash 11,300 Retained earnings 8,300 Cash dividends payable 8,300

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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6 Gartner Inc. declared a $0.50 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares authorized, 22,000 shares issued, and 5,400 shares held as treasury stock. What is the entry for the dividend declaration?

 

Multiple Choice
  •  
    Retained earnings 11,300  
    Cash dividends payable   11,300
  •  
    Retained earnings 8,300  
    Cash   8,300
  •  
    Retained earnings 11,300  
    Cash   11,300
  •  
    Retained earnings 8,300  
    Cash dividends payable   8,300
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