On February 13, Solar Company declared a cash dividend of $45,000 to be paid on April 30 to stockholders. The record date will be on March 14. The journal entry on February 13 would be: Question 10Select one: a. debit to Stock Dividend for $45,000; credit to Stock Dividend Distributable for $45,000 b. debit to Cash Dividend Payable for $45,000; credit Cash for $45,000 c. No journal entry d. debit to Cash Dividend for $45,000; credit to Cash Dividend Payable for $45,000 e. debit to Stock Dividend Distributable for $45,000; credit to Common Stock for $45,000

On February 13, Solar Company declared a cash dividend of $45,000 to be paid on April 30 to stockholders. The record date will be on March 14. The journal entry on February 13 would be: Question 10Select one: a. debit to Stock Dividend for $45,000; credit to Stock Dividend Distributable for $45,000 b. debit to Cash Dividend Payable for $45,000; credit Cash for $45,000 c. No journal entry d. debit to Cash Dividend for $45,000; credit to Cash Dividend Payable for $45,000 e. debit to Stock Dividend Distributable for $45,000; credit to Common Stock for $45,000

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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