A Corporation Declares a Dividend of $2

question 7

Multiple Choice

A corporation declares a dividend of $2.00 per share on 11,000 shares of common stock.Which of the following is included in the entry to record the declaration?

• A)Cash Dividends is debited for $22,000.
• B)Paid-In Capital in Excess of Par-Common is credited for $22,000.
• C)Cash Dividends is credited for $22,000.
• D)Dividends Payable-Common is debited for $22,000.

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Definitions:

Long-Term Forecasts

Predictions about future events, trends, or behaviors that extend over a significant period of time, usually beyond a year.

Supply And Demand

Economic model describing the interaction between the availability of a product (supply) and the desire for that product (demand).

Static Time-Series Method

A forecasting technique that assumes past data patterns will continue into the future without adjusting for dynamic changes.

Historical Data

Past information and data used to analyze trends, forecast future events, and make informed decisions.