which of the following is the appropriate general journal entry to record the declaration of cash dividends? a. cash dividends distributable cash b. paid-in capital cash dividends payable c. cash dividends cash dividends payable d. retained earnings cash

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01-12-2022
Business

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which of the following is the appropriate general journal entry to record the declaration of cash dividends? a. cash dividends distributable cash b. paid-in capital cash dividends payable c. cash dividends cash dividends payable d. retained earnings cash

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aamirmajeed5100 aamirmajeed5100 · Answer 1 · 2022-12-05T07:56:40-05:00

c) cash dividends, cash dividends payable is the appropriate general journal entry to record the declaration of cash dividends.

A cash dividend is a percentage of the company's profit that the board of directors has authorized to be distributed as dividends to the company's shareholders in exchange for their investments. The dividend payment obligation is then satisfied by paying cash or by bank transfer.

The company's net profits from the financial year are used to pay the cash dividend. A firm is not required to issue dividends; alternatively, the money may be reinvested in other corporate growth initiatives.

Therefore the correct option is c.

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