On November 1,2017,McEwing,Inc

question 141

Multiple Choice

On November 1,2017,McEwing,Inc.declared a dividend of $5.00 per share.McEwing,Inc.has 20,000 shares of common stock outstanding and no preferred stock.The date of record is November 15,and the payment date is November 30,2017.Which of the following is the journal entry needed on November 30,2017?

• A)Debit Cash Dividends $100,000,and credit Dividends Payable-Common $100,000.
• B)Debit Dividends Payable-Common $100,000,and credit Cash $100,000.
• C)Debit Cash $100,000,and credit Dividends Payable-Common $100,000.
• D)Debit Cash Dividends $100,000,and credit Cash $100,000.

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Definitions:

Market Segments

Portions of the market differentiated by distinct needs, characteristics, or behaviors, where businesses target specific products or campaigns.

Seasonal Demand

relates to fluctuations in consumer demand for specific products or services at certain times of the year, driven by factors like holidays, weather, and cultural events.

Diploma Covers

Protective and often decorative holders or folders for diplomas, certificates, or other official documents.

Gross

The total revenue or income generated from sales or services before any expenses, taxes, or deductions are subtracted.