On June 1, a Board of Directors Declared a $3

question 169

Multiple Choice

On June 1, a board of directors declared a $3 per share cash dividend, payable on June 30 to all common stockholders of record on June 15. The company has 10,000 shares of common stock authorized, 1,000 shares issued, and 200 shares in the treasury. The entry to record the dividend declaration increases

• A)a liability account by $2,400.
• B)an asset account by $3,000.
• C)an expense account by $2,400.
• D)a stockholders' equity account by $3,000.

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Definitions:

St Martin-in-the-Fields

An iconic Anglican church located in Trafalgar Square, London, known for its neoclassical design and cultural events.

Classical Temples

Temples from the classical period of ancient Greece and Rome, distinguished by their use of columns and symmetry.

Neoclassical Follies

Ornamental buildings without practical purpose, built during the Neoclassical period, often emulating classical styles and serving as decorative landscape elements.

Picturesque Garden

An “unordered” garden designed in accord with the Enlightenment taste for the natural.