On May 1, CGI Corporation Declared Cash Dividends on Its

question 4

Multiple Choice

On May 1, CGI Corporation declared cash dividends on its common stock.The dividend was payable on May 15 to shareholders of record on May 5.Which of the following entries will CGI make on May 5 in its accounting information system?

• A)Debit retained earnings, credit dividends payable
• B)Debit dividends payable, credit cash
• C)Debit retained earnings, credit cash
• D)None of these

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Definitions:

Ethnomethodology

The study of how social order is produced in and through processes of social interaction.

Theoretical Traditions

Established frameworks or approaches within academic disciplines that guide research, analysis, and the interpretation of phenomena.

Ethnomethodologists

Researchers focusing on the way people make sense of their everyday social interactions, emphasizing the methods and practices used to maintain social order.

Accounts

In sociology, refers to explanations or narratives given by individuals to make sense of their actions and the events in their lives.