A Corporation Declares a Dividend of $0

question 89

Multiple Choice

A corporation declares a dividend of $0.50 per share on 10,000 shares of common stock. Which of the following would be included in the entry to record the declaration?

• A)Retained Earnings would be debited for $5,000.
• B)Paid-In Capital in Excess of Par-Common would be credited for $5,000.
• C)Retained Earnings would be credited for $5,000.
• D)Dividends Payable-Common would be debited for $5,000.

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