Use the Following Information for Questions

question 74

Multiple Choice

Use the following information for questions
On July 15, 2012, the board of directors of George Easton Limited declared a cash dividend of $0.50 per share on 84,000 common shares. The dividend is to be paid on August 15, 2012, to shareholders of record on July 31, 2012.
-The journal entry to be recorded on July 15, 2012, will include a

• A)debit to Dividends Payable.
• B)debit to Cash Dividends.
• C)credit to Cash.
• D)credit to Retained Earnings.

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Definitions:

Superior Rectus

A muscle in the eye that primarily enables upward movement of the eyeball.

Inferior Rectus

A muscle in the eye that controls downward movement of the eyeball.

Superior Rectus

A muscle in the human eye, which is responsible for elevating the eye and turning it inward.

Orbicularis Oris

The orbicularis oris is a complex of muscles in the lip area that encircles the mouth, responsible for lip movements such as closing, puckering, and shaping during speech and eating.