Use the Following to Answer Questions

question 71

Short Answer

Use the following to answer questions
On March 1,2016,Gilmore Incorporated declared a cash dividend on its 1,500 outstanding shares of $50 par value,6% preferred stock.The dividend will be paid on May 1,2016 to the stockholders of record as of April 1,2016.
-Which of the following reflects the financial statement effects on the May 1,2016 date of payment?

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Definitions:

Menstrual Cycle

The regular natural change that occurs in the female reproductive system that makes pregnancy possible, usually lasting about 28 days.

Fertile Phase

The period in a female's menstrual cycle when she is most capable of conceiving a child.

Testosterone

The principal male sex hormone in mammals.

Estrogen

A group of steroid hormones which play a critical role in sexual and reproductive development, primarily in women, but also has important functions in men.