Quiz Ch 10 – Debit Account for Cash Dividend Declaration
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Which account should be debited on the date of declaration when a corporation declares a $100,000 cash dividend?
Which account should be debited on the date of declaration when a corporation declares a $100,000 cash dividend?
Who declares dividends in a corporation?
What is the definition of legal capital for a corporation?
What percentage range of a corporation’s outstanding stock is considered a small stock dividend among the options?
What is the term used to describe previously issued stock that a corporation purchases from shareholders?
Who holds the authority to declare a dividend?
When does a cash dividend become a legal obligation?
Why is preferred stock NOT similar to debt?
Identify the disadvantage of forming a corporation among the given options.
After a 2-for-1 stock split, which statement is false?