Your Business Declared a $200 Dividend on August 31,payable in September.On

question 7

Multiple Choice

Your business declared a $200 dividend on August 31,payable in September.On August 31,which of the following journal entries would be made?

• A)Debit Dividends Receivable for $200;credit Dividends Declared for $200.
• B)Debit Dividends Declared for $200;credit Dividends Payable for $200.
• C)Debit Dividends Payable for $200;credit Dividends Declared for $200.
• D)Debit Dividends Declared for $200;credit Dividends Receivable for $200.

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Definitions:

Ratification of the Constitution

The process by which the United States Constitution was officially adopted and became the supreme law of the land, following approval by the necessary nine out of thirteen states in 1788.

Fiscal Policies

Government policies concerning taxation and spending that are aimed at managing the economy by influencing demand through changes in the budget balance.

Agrarian Interests

Concerns or policies primarily related to agriculture and the welfare of rural communities.

Executive Departments

Major administrative units in the federal government responsible for enforcing federal laws, with each led by a member of the President's Cabinet.