Aris company declares a cash dividend of $1.00 per share on its 12.000 common sharesoutstanding. The journal entry to record the payment of the cash dividend is:(A) Debit Common Dividend Payable $12,000; credit Retained Earnings $12,000.(B) Debit Common Dividend Payable $12,000; credit Cash $12,000.(C) Debit Retained Earnings $12,000; credit Common Dividend Payable $12,000.(D) Debit Dividend Expense $12,000; credit Cash $12,000.

Given that Cash dividend = $ 1.00 per share Common shares outstanding = 12000

Answered: Aris company declares a cash dividend…

Aris company declares a cash dividend of $1.00 per share on its 12.000 common shares outstanding. The journal entry to record the payment of the cash dividend is:

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter15: Dividend Policy

Section: Chapter Questions

Problem 5P

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