K Canopy, the Stockholder of Canopy Services, Inc

question 230

Multiple Choice

K. Canopy, the stockholder of Canopy Services, Inc., The company paid $5,700 cash in dividends to the owner (sole stockholder) . The entry to close the dividends account at the end of the year is:

• A)Debit Dividends $5,700; credit Cash, $5,700
• B)Debit Retained Earnings $5,700; credit Dividends $5,700
• C)Debit Dividends $5,700; credit Retained Earnings $5,700
• D)Debit Retained Earnings $5,700; credit Salary Expense $5,700
• E)Debit Income Summary $5,700; credit Retained Earnings $5,700

Understand the contact hypothesis and its implications for reducing stereotyping and improving intergroup relations in organizations.

Understand the importance of self-awareness skills for human services administrators.

Recognize the multiple roles played by supervisors in human services.

Identify ineffective strategies in maximizing field supervision benefits.

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Definitions:

Collision Insurance

A type of automobile insurance that protects the insured against any loss arising from damage to the insured’s automobile caused by accidental collision with another object or with any part of the roadbed.

Annuity

A guaranteed retirement income.

Property Insurance

Insurance coverage that provides protection against most risks to property, such as fire, theft, and some weather damage.

Valuable Artwork

Works of art that possess significant monetary, cultural, or historical value.