A Business Paid a $100 Cash Dividend

question 70

Essay

A business paid a $100 cash dividend.Assume the company had a $2,000 balance in cash immediately prior to this transaction and that this was the first time dividends had ever been paid.Set up the necessary T-accounts below and show how this transaction would be recorded directly in those accounts.Show ending account balances.

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Definitions:

Animals

Animals are multicellular, eukaryotic organisms in the kingdom Animalia that possess biological processes such as metabolism and the ability to respond to their environment.

Humans

The species Homo sapiens, distinguished by the ability to think, utilize language, and create complex societies.

Social Acceptance

The act of being recognized and accepted by others within a social context or group, often conforming to their norms and expectations.

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Cultures defined by distinct characteristics, values, norms, and practices unique to a particular group or society.