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In: Accounting

Question 26 A paid dividend Question 26 options: Credits cash and debits dividends Credits cash and...

Question 26

A paid dividend

Question 26 options:

	Credits cash and debits dividends
	Credits cash and dividends
	Debits cash and credits dividends
	Debits cash and dividends

Question 27

Performance of a service results in

Question 27 options:

	a credit to an asset and revenues
	a credit to an asset and a debit to revenues
	a debit to an asset and revenues
	a debit to an asset and a credit to revenues

Question 28

Taking out a loan results in

Question 28 options:

	a credit to assets and a debit to liabilities
	a debit to assets and a credit to liabilities
	a credit to assets and liabilities
	a debit to assets and liabilities

Question 29

Repayment of a loan results in

Question 29 options:

	a debit to an asset and to liabilities
	a credit to an asset and a debit to liabilities
	a debit to an asset and a credit to liabilities
	a credit to an asset and to liabilities

Expert Solution

Question 26 :A paid dividend Involves Credit Cash and Debits Dividnds

Explanation: On the date of Declaration of Dividends Dividends is Debited and Dividends payable is Credited on the date of payment Dividends payable is Debited and Cash is Credited and the Net affect of both transactions results in credit cash and debit Dividends.

Question 27 . Option A Debit to an Asset and Credit to Revenues

On performance of a Service Asset i.e Cash or Account receivable is recogninsed and corresponding Income has to be credited

Question 28: Answer: Debit to Asset and Credit to Liabilities

Taking a loan results in Increase in cash and Increase in Liablity. Since cash is an Inflow asset has to be debited and Liability has to be credited

Question 29: A Credit to an Asset and Debit to Liability

Since repayment of Loan results in Outflow of cash Asset has to be CRedited and As a result of repayment the Liability is decreases so Liability has to be debited

ekkarill92 answered 1 year ago

The "maximum dividend method" assumes that all surplus cash will be paid out as dividends. True...

The "maximum dividend method" assumes that all surplus cash will be paid out as dividends. True False

Debits and Credits are the foundation for recording transactions in an accounting system. Do debits represent...

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Question 1/ Firm A has just paid a dividend of $1.5 per share. The dividends are expected to grow during year 1 by 14.5% and during year 2 by 11.9% and during year 3 by 8.5% and during year 4 by 6.5%. Starting from year 4 the dividends are expected to grow constantly by 4.5% forever. The required rate of return on the stocks is 12%. a/ Compute the intrinsic value of the stock now? (Show your steps) b/ Compute...

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Provide full debits and credits CASH ACCRUAL OUTFLOW 11 An old factory is reopened and refurbished for 20 in cash 20 20 and the costs qualify as an EXPENSE This activity must be recorded in the Income Statement. INFLOW 12 An old Factory is sold for 60 in cash, at a gain of 30 60 30 The fair value and sales price was 100 100 100 The accumulated depreciation was 40 40 30 The original acquisition cost for the asset...

The last dividend paid by New Technologies was an annual dividend of $1.40 a share. Dividends...

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The following trial balance has been adjusted as of December 31, 20XX Debits Credits Cash $ 2

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Unadjusted Trial Balance At December 31, 20XX Acc. # Account Name Debits Credits 100 Cash $ ...

Unadjusted Trial Balance At December 31, 20XX Acc. # Account Name Debits Credits 100 Cash $ 66,000 110 Accounts receivable 160,000 115 Allowance for doubtful accounts $ 7,000 120 Inventory 50,000 135 Prepaid insurance 27,000 136 Prepaid advertising - 150 Land 235,000 160 Building 240,000 165 Accumulated depreciation - building 54,000 170 Equipment 150,000 175 Accumulated depreciation - equipment 41,250 190 Notes receivable 155,000 195 Interest receivable - 200...

Jefferson County’s General Fund began the year 2017 with the following account balances: Debits Credits Cash...

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