The Board of Directors of Irondale Corporation Declared a Cash $\begin{array}{lll}\text { Dividends } & 142,500 \\\text { Dividends Payable } & & 142,500\end{array}$

question 149

Multiple Choice

The board of directors of Irondale Corporation declared a cash dividend of $2.50 per share on 57,000 shares of common stock on June 14,2010.The dividend is to be paid on July 15,2010,to shareholders of record on July 1,2010.The proper entry to be recorded on June 14,2010,will be:

• A)
• \(\begin{array}{lll}
• \text { Dividends } & 142,500 \\
• \text { Dividends Payable } & & 142,500
• \end{array}\)
• B)
• \(\begin{array}{lll}
• \text { Dividends Payable} & 142,500 \\
• \text { Cash } & & 142,500
• \end{array}\)
• C)
• \(\begin{array}{lll}
• \text { Dividends } & 142,500 \\
• \quad \text { Retained Earnings } & & 142,500
• \end{array}\)
• D)
• \(\begin{array}{lcc}
• \text { Dividends payable } & 142,500\\
• \text { Dividends }&& 142,500 \\
• \end{array}\)

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Definitions:

Output

The total amount of goods or services produced by a company, industry, or economy, often measured within a given time period.

Shut Down

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Price

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