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radiants radiants
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5 years ago
On November 1, 2017, McEwing, Inc. declared a dividend of $6.00 per share. McEwing, Inc. has 24,000 shares of common stock outstanding and no preferred stock. The date of record is November 15, and the payment date is November 30, 2017. Which of the following is the journal entry needed on November 30, 2017?
A) Debit Cash Dividends $144,000, and credit Dividends PayableCommon $144,000.
B) Debit Dividends PayableCommon $144,000, and credit Cash $144,000.
C) Debit Cash $144,000, and credit Dividends PayableCommon $144,000.
D) Debit Cash Dividends $144,000, and credit Cash $144,000.
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Horngren's Accounting

Horngren's Accounting


Edition: 11th
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YogenYogen
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radiants Author
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5 years ago
This calls for a celebration Person Raising Both Hands in Celebration
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Thanks for your help!!
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Good timing, thanks!
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