Assume Garrison Guitar Company Declared a $0 $\begin{array}{|l|r|l|}\hline \text { Retained Earnings } & 3,360 & \\\hline \text { Common Dividends Payable } & & 3,360 \\\hline\end{array}$

question 169

Multiple Choice

Assume Garrison Guitar Company declared a $0.28 per share cash dividend and that the company has 25,000 shares authorized,19,000 shares issued,and 12,000 shares of common stock outstanding.The general journal entry to record the dividend declaration is:

• A) \(\begin{array}{|l|r|l|}
• \hline \text { Retained Earnings } & 3,360 & \\
• \hline \text { Common Dividends Payable } & & 3,360 \\
• \hline
• \end{array}\)
• B) \[\begin{array} { |l | r | r | }
• \hline \text { Common Dividends Payable } & 5,320 & \\
• \hline \text { Cash } & & 5,320 \\
• \hline
• \end{array}\]
• C) \(\begin{array}{|l|r|c|}
• \hline \text { Retained Earnings } & 5,320 & \\
• \hline \text { Common Dividends Payable } & & 5,320 \\
• \hline
• \end{array}\)
• D) \(\begin{array}{|l|c|c|}
• \hline \text { Common Dividends Payable } & 3,360 & \\
• \hline \text { Cash } & & 3,360 \\
• \hline
• \end{array}\)
• E) \(\begin{array}{|l|r|r|}
• \hline \text { Retained Earnings } & 7,000 & \\
• \hline \text { Common Dividends Payable } & & 7,000 \\
• \hline
• \end{array}\)

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Definitions:

Fibers

Threadlike structures forming animal body parts like muscle tissue or plant components like cellulose, essential for various biological functions.

Left Hemisphere

The left side of the brain, known for controlling speech, comprehension, arithmetic, and writing among other cognitive functions.

Right Hemisphere

Denotes the right half of the human brain, associated with spatial abilities, visual imagery, and the processing of music and art.

Stimulants

Substances that increase activity in the brain and nervous system, enhancing alertness and energy.