The Rent It Company Declared a Dividend of

question 66

Multiple Choice

The Rent It Company declared a dividend of $.60 a share on October 20^th to holders of record on Monday,November 1^st. The dividend is payable on December 1^st. You purchased 100 shares of Rent It Company stock on Wednesday,October 27^th. How much dividend income will you receive on December 1^st from the Rent It Company?

• A) $0
• B) $1.50
• C) $6.00
• D) $15.00
• E) $60.00

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Definitions:

Liability Accounts

Accounts on a company's balance sheet that track what the company owes to others, such as loans payable, accounts payable, and mortgage payable.