Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. kader co. paid a total of $35,000 in dividends dur

Kader Co. paid a total of $35,000 in dividends during the current year. The entry...

50.1K

Verified Solution

Question

Accounting

Kader Co. paid a total of $35,000 in dividends during the current year. The entry needed to close the dividends account is:

Select one:

a. Debit Income Summary and credit Cash for $35,000

b. Debit Dividends and credit Cash for $35,000

c. Debit Income Summary and credit Dividends for $35,000

d. Debit Retained Earnings and credit Dividends for $35,000

e. Debit Dividends and credit Retained earnings for $35,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Let E be the solid below z 8 a y and above the square 2...

Basic Math
Q

Show that if (x,y,z) is a primitive Pythagorean triple, then X and Y cannot both be...

Advance Math
Q

Jamie is practicing free throws before her next basketball game. The probability that she makes...

Basic Math
Q

The following is a frequency distribution of the number of red M M s found...

Statistics
Q

You are performing a left tailed test with test statistic z 2 6 find the...

Statistics
Q

A company is trying to decide whether to buy a new delivery truck...

Accounting
Q

12. If we assume that there is no fixed manufacturing overhead and the variable manufacturing...

Accounting
Q

Alex paid $90,000 for a single-life annuity. He will receive $7,000 per year for 20...

Accounting
Q

Bolt Company manufactures boxes. To manufacture a box, it takes 22 units of wood and...

Accounting
Q

A journal entry would not be required for which type of reconciling item? A. A...

Accounting
Q

Need detailed and efficient answer please!!! Q. No. 4. Financial Statements of a company are...

Accounting
Q

Contrast and/or describe the following terms: Variance: Standard Deviation: ...

Finance