Sumatra Ltd declared a final dividend of 8 cents per ordinary shares on 30 June...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Sumatra Ltd declared a final dividend of 8 cents per ordinary shares on 30 June 2020. The companys share register noted that there were 2,000,000 ordinary shares listed. The dividend was paid on 30 September 2020. What would be the General Journal entry at 30 September 2020 to record the payment of the final dividend? Group of answer choices
DR: Dividend payable $160,000 CR: Cash $160,000
DR: Share capital $160,000 CR: Cash $160,000
DR: Cash $160,000 CR: Dividends payable 160,000
DR: Retained earnings $160,000 CR: Cash $160,000
2When a second-hand building is purchased which of the following should be recognised in a separate asset account instead of being debited to the building account? Group of answer choices
The cost of installing an air conditioning system
Legal fees for the purchase of the building Stamp duty paid on the building purchase
Expenditure on initial repairs to the floor of the building
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!
