On December 15,20B,the Board of Directors of Home Corporation Declared

question 17

Multiple Choice

On December 15,20B,the board of directors of Home Corporation declared a cash dividend,payable on January 8,20C,of $2 per share on the 100,000 common shares outstanding.The accounting period ends December 31.Because of this action,on December 15,20B,Home Corporation should do which of the following?

• A)Make no journal entry because the event had no effect on the corporation's financial position until 20C.
• B)Decrease retained earnings $200,000 and increase liabilities $200,000.
• C)Decrease retained earnings $200,000 and increase contributed capital $200,000.
• D)Decrease cash $200,000 and decrease retained earnings $200,000.

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Definitions:

Prejudices

Preconceived negative judgments or feelings towards individuals based on their membership in a certain group without factual justification.

Male Instructors

Educators or trainers who identify as male and are engaged in the process of teaching or instruction.

Female Instructors

Refers to educators or teachers who identify as female and are involved in the process of teaching or instruction.

Competent

Having the necessary ability, knowledge, or skill to do something successfully or efficiently.