Roush Inc. has 100,000 shares of $5 par value common stock issued and outstanding. On July 1, 2019 the board of directors of Roush, Inc. authorizes a $.33 per share dividend to shareholders of record on July 31, 2019. The dividend will be paid August 20, 2019. What is the entry on August 20, 2019? Select one: O a. Dr. Dividends Payable $500,000. Cr. Cash $500,000 O b. Dr. Cash Dividends $33,000. Cr. Dividends Payable $33,000 O c. Dr. Dividends Payable $33,000. Cr. Cash $33,000 O d. No entry is necessary Oe. None of the above

Roush Inc. has 100,000 shares of $5 par value common stock issued and outstanding. On July 1, 2019 the board of directors of Roush, Inc. authorizes a $.33 per share dividend to shareholders of record on July 31, 2019. The dividend will be paid August 20, 2019. What is the entry on August 20, 2019? Select one: O a. Dr. Dividends Payable $500,000. Cr. Cash $500,000 O b. Dr. Cash Dividends $33,000. Cr. Dividends Payable $33,000 O c. Dr. Dividends Payable $33,000. Cr. Cash $33,000 O d. No entry is necessary Oe. None of the above

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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