On the date of declaration of the dividend, we _____.Multiple Choicecredit Retained Earningscredit Cashdebit Dividendsdebit Dividends Payable
Question
Solution 1
On the date of declaration of the dividend, we debit Dividends.
Here's the step by step explanation:
When a company declares a dividend, it is committing to pay a certain amount of cash to its shareholders at some point in the future.
This declaration is a liability for the company, as it Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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