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1. A company declared a cash dividend on its ordinary shares in December 2020 payable in January 2021. Retained earnings would A. increase on the date of declaration. B. not be affected on the date of payment C. not be affected on the date of declaration D. decrease on the date payment

1. A company declared a cash dividend on its ordinary shares in December 2020 payable in January 2021. Retained earnings would A. increase on the date of declaration. B. not be affected on the date of payment C. not be affected on the date of declaration D. decrease on the date payment

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. A company declared a cash dividend on its ordinary shares in December 2020 payable in January 2021. Retained earnings would

A. increase on the date of declaration.
B. not be affected on the date of payment
C. not be affected on the date of declaration
D. decrease on the date payment
 
2. Which of the following should be presented in the statement of changes in equity?
 
A. Distributions to owners
B. Investments by owners
C. Change in ownership interest in subsidiary that does not result in a loss of control
D. All of these are presented in the statement of changes in equity
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