Which of the Following Is the Appropriate General Journal Entry

question 93

Multiple Choice

Which of the following is the appropriate general journal entry to record the declaration of a cash dividends?

• A) Retained earnings Cash
• B) Cash Dividends payable Cash
• C) Paid-in capital Cash Dividends payable
• D) Cash Dividends Cash Dividends Payable

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Definitions:

Manufacturing Firm

A company that produces goods through the process of raw materials using labor and machinery.

Cost Accounting Systems

Methods and procedures used for collecting, classifying, summarizing, and analyzing a company's costs to help in budgeting, controlling, and decision-making.

Product Costs

Direct costs associated with the production of goods sold by a company, including direct materials, direct labor, and manufacturing overhead.

Process Cost Accounting System

An accounting system that accumulates costs for each process or department within a production environment.