Woodland Inc. Declared a cash dividend of $1.00 per share on its 2 million outstanding shares. The dividend was declared on August 1, payable on Sept 9 to all stockholders of Record on August 15. What is the Journal entry that should be generated on September 9? O No Entry Necessary O Dividends Payable Cash O Dividends Expense $2.000 000 $2 000.000 $2.000 C00 Cash O Retained Earnings Dividends Payable $2 000 000 $2 CO0 C00 $2 000 000

Woodland Inc. Declared a cash dividend of $1.00 per share on its 2 million outstanding shares. The dividend was declared on August 1, payable on Sept 9 to all stockholders of Record on August 15. What is the Journal entry that should be generated on September 9? O No Entry Necessary O Dividends Payable Cash O Dividends Expense $2.000 000 $2 000.000 $2.000 C00 Cash O Retained Earnings Dividends Payable $2 000 000 $2 CO0 C00 $2 000 000

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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