On May 1, CGI Corporation Declared Cash Dividends on Its

question 32

Multiple Choice

On May 1, CGI Corporation declared cash dividends on its common stock. The divided was payable on May 15 to shareholders of record on May 5. Which of the following entries will CGI make on May 5 in its accounting information system?

• A)Debit retained earnings, credit dividends payable
• B)Debit dividends payable, credit cash
• C)Debit retained earnings, credit cash
• D)None of the above

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Definitions:

Vagina

The muscular tube leading from the external genitals to the cervix of the uterus in females.

Device

A device is an object or machine designed to perform a specific task or function, often used to refer to technological items or medical apparatus.

Gonorrhea

A sexually transmitted bacterial infection caused by Neisseria gonorrhoeae, affecting mucous membranes, particularly in the genital tract.

Urination

The process of excreting urine from the urinary bladder through the urethra to the outside of the body.