Acme Owns 4,000 Shares of XYZ

question 118

Multiple Choice

Acme owns 4,000 shares of XYZ.XYZ has 50,000 total shares of stock outstanding.XYZ paid $0.82 per share in cash dividends to its stockholders.Acme should record a:

• A)Debit to Dividends for $41,000.
• B)Debit to Dividends for $3,280.
• C)Debit to Cash for $3,280.
• D)Debit to Long-Term Investments for $3,280.
• E)Credit to Long-Term Investments for $3,280.

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Definitions:

Imaginary Island

A nonexistent geographical location used as a concept for thought experiments or creative settings.

Kosslyn

Refers to Stephen Kosslyn, a cognitive psychologist known for his work on the nature of visual imagery and its function in the human brain.

Intelligence

Intelligence is the capacity to learn, understand, and apply knowledge, solve problems, and adapt to new situations.

Effective Challenges

Opposing or difficult situations that, when overcome, lead to personal growth or achievement.