LMN Ltd Declared an Interim Dividend on 12 February 2018

question 3

Multiple Choice

LMN Ltd declared an interim dividend on 12 February 2018 of 10 cents per share (500 000 issued shares) and paid it on 3 March 2018. The journal entry on 12 February 2018 would include:

• A) DR Interim dividend declared, $50 000.
• B) CR Cash, $50 000.
• C) CR Retained profits, $50 000.
• D) None of the above

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Definitions:

Inanimate Objects

Objects that lack life or consciousness, including items not capable of autonomous movement or biological functions.

Sexual Excitement

The arousal stage in human sexual response involving physiological and emotional changes.

Paraphilia

A condition characterized by abnormal sexual desires, typically involving extreme or dangerous activities.

Socially Inappropriate

Behaviors or actions that are not acceptable or expected in social contexts according to societal norms.