QUESTION 21 The board of directors declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 2017. The dividend is to be paid on August 15, 2017, to stockholders of record on July 31, 2017. The effects of the journal entry to record the payment of the dividend on August 15, 2017, are to O a. increase stockholders' equity and increase liabilities. O b. decrease stockholders' equity and decrease liabilities. O c. decrease liabilities and decrease assets. O d. increase stockholders' equity and decrease assets.

QUESTION 21 The board of directors declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 2017. The dividend is to be paid on August 15, 2017, to stockholders of record on July 31, 2017. The effects of the journal entry to record the payment of the dividend on August 15, 2017, are to O a. increase stockholders' equity and increase liabilities. O b. decrease stockholders' equity and decrease liabilities. O c. decrease liabilities and decrease assets. O d. increase stockholders' equity and decrease assets.

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 12.4BE: Entries for stock dividends Alpine Energy Corporation has 1,500,000 shares of 40 par common stock...

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