Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 41,000 shares authorized, 21,600 shares issued, and 16,400 shares of common stock outstanding. The journal entry to record the dividend declaration is: Multiple Choice Debit Common Dividends Payable $10,800, credit Cash $10,800 Debit Retained Earnings $20.500, credit Common Dividends Payable $20.500 Debit Retained Earnings $8,200, credit Common Dividends Payable $8.200 Debit Common Dividends Payable $8,200, credit Cash $8.200
Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 41,000 shares authorized, 21,600 shares issued, and 16,400 shares of common stock outstanding. The journal entry to record the dividend declaration is: Multiple Choice Debit Common Dividends Payable $10,800, credit Cash $10,800 Debit Retained Earnings $20.500, credit Common Dividends Payable $20.500 Debit Retained Earnings $8,200, credit Common Dividends Payable $8.200 Debit Common Dividends Payable $8,200, credit Cash $8.200
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 1R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...
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