ega Corp. declared a $50,000 cash dividend on July 1, 2020, with the following related information: Ex-Dividend Date: July 14, 2020 Date of Record: July 15, 2020 Date of Payment: July 31, 2020 For this transaction, would Mega Corp’s liabilities increase, decrease, or remain unchanged on each listed date? Select one:
ega Corp. declared a $50,000 cash dividend on July 1, 2020, with the following related information: Ex-Dividend Date: July 14, 2020 Date of Record: July 15, 2020 Date of Payment: July 31, 2020 For this transaction, would Mega Corp’s liabilities increase, decrease, or remain unchanged on each listed date? Select one:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Mega Corp. declared a $50,000 cash dividend on July 1, 2020, with the following related information:
Ex-Dividend Date: July 14, 2020
Date of Record: July 15, 2020
Date of Payment: July 31, 2020
For this transaction, would Mega Corp’s liabilities increase, decrease, or remain unchanged on each listed date?
Select one:
a.
| July 1 | July 14 | July 15 | July 31 |
|---|---|---|---|
| No change | No change | Increase | Decrease |
b.
| July 1 | July 14 | July 15 | July 31 |
|---|---|---|---|
| Increase | No change | No change | Decrease |
c.
| July 1 | July 14 | July 15 | July 31 |
|---|---|---|---|
| Decrease | No change | No change | Increase |
d.
| July 1 | July 14 | July 15 | July 31 |
|---|---|---|---|
| No change | No change | Decrease | Increase |
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