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[DOC File]Chapter 02 Analyzing and Recording Transactions
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6. An account is a record of increases and decreases in a specific asset, liability, equity, revenue or expense item. True False 7. According to the seller, a customer's promise to pay is called an account payable. True False 8. Dividends are a type of business expense. True False 9.
how to journal dividends

[DOC File]Chapter 05 The Accounting Cycle: Reporting Financial Results
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Dec 31, 2010 · This trial balance consists only of accounts for assets, liabilities, and owners' equity. ____ c. Journal entries made at the end of the period for the purpose of closing temporary accounts (revenue, expense, and dividend accounts) and transferring balances to the Retained Earnings account. ____ d.
dividends paid accounting journal entry

[DOC File]INSTRUCTIONS FOR UNIT #10
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Expense accounts are set up to record the expenses of running the business. They have account titles such as wage expense, salary expense, utilities expense, depreciation expense, etc. ... entry is used if the corporation declared a dividend. Dividends. are a distribution of profit to the stockholder, usually in the form of cash. Since they are ...
journal entry for declaring dividend

[DOC File]12 - Texas Tech University
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the dividend was to be paid on August 1, 2008 to the shareholders of record at July 1, 2008. The journal entry to record the declaration on June 1, 2008 would be: A) Dividend Expense 100,000. Cash 100,000. B) Retained Earnings (Dividends) 100,000. Cash 100,000. C) Dividend Expense 100,000. Dividends Payable 100,000
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[DOC File]ANSWERS TO QUESTIONS
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December 31 Interest Receivable 10,000 Interest Revenue 10,000 (To record accrued interest revenue on loan) Accrued expenses result from the same causes as accrued revenues. In fact, an accrued expense on the books of one company is an accrued revenue to another company. ... (Declared and paid a $500 cash dividend) 30 Wages Expense 900 Cash 900 ...
recording dividend income

[DOC File]Chapter 13 Current Liabilities and Contingencies
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On December 26, 2003, Arnold Company declares a $1.50 per share dividend to be paid on January 31, 2004, to shareholders of record as of January 5, 2004. The entries to record declaration and payment of cash dividend are: d. Current Maturities of Long-term Debt ( Long-term liability that is …
recording dividends received

[DOC File]CHAPTER 1
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(To record 2009 unrecognized subsidiary earnings as part of the parent’s retained earnings. $15,000 income of subsidiary was not recorded by parent (income in excess of dividends). Amortization expense of $12,000 was not recorded under the initial value method.
accounting for dividends

[DOC File]Solutions for Homework ** Accounting 311 Cost ** Winter 2009
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There is no record falsification here. Much depends on the means of “persuading” carriers to accept the merchandise. For example, if an under-the-table payment is involved, or if carriers are pressured to accept merchandise, it is clearly unethical. If, however, the carrier receives no extra consideration and willingly agrees to accept the ...
record dividends paid

[DOC File]BUS 302L Accounting Review Topics 1 - 5
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services to customers. An expense represents a cost that helps to produce a. revenue. Total revenues minus total expenses equals net income (or net loss). Never treat a dividend as an expense. It is not an expense, because it does not satisfy the definition of an expense –– …
how to journal dividends

[DOC File]CHAPTER 10
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June 30 Cash 300 Dividend Revenue 300 Received dividend of $1 per share. Exercise 10-3 . a. Dec. 31 Bad Debts Expense* 685 Allowance for Doubtful Accounts 685 To record estimated bad debts expense. *Estimated allowance ($55,000 x .02) = $1,100 credit Unadjusted allowance = 415 credit Adjustment to the allowance = $ 685 credit ...
dividends paid accounting journal entry

How to record dividend expense