Ask Question
BusinessBusiness
28 October, 20:21

The company paid $35,000 cash in dividends to the owner, jen rogers. the entry needed to close the dividends account is:

+3
Answers (1)
  1. 28 October, 21:22
    0
    The entry needed to close the dividend account is "Debit: Retained earnings $35,000 and credit: dividend expense $35,000" based on the journal transaction. The dividend is a portion of a company's earnings which be shared by the company to the investor as the return for their investment. This entry will decrease the retained earning balance.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The company paid $35,000 cash in dividends to the owner, jen rogers. the entry needed to close the dividends account is: ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Suppose the equilibrium price in the market is $60 and the marginal revenue associated with the linear (inverse) demand function is $20. Then we know that the own price elasticity of demand is?
Answers (1)
Olivia bakes cakes and Andrew grows corn. Olivia and Andrew both like to eat cake and eat corn. In which of the following cases is it impossible for both Olivia and Andrew to benefit from trade? a.
Answers (1)
Duke's Garage has cash of $68, accounts receivable of $142, accounts payable of $235, and inventory of $318. What is the value of the quick ratio? Select one: a. 2.25 b ...53 c ...71 d ...89 e. 1.35
Answers (1)
6. On 3/1/19, Kepple Inc. borrowed funds on a 12%, two-year note, to finance the construction of a new warehouse which qualifies for interest capitalization. Construction on the project began on 4/1/19 and was completed on 11/1/19.
Answers (1)
Prompt has realized that it can obtain larger trucks with a capacity of 1,000 units for a cost of $3,500 per route and the same transit time of 4 days per route.
Answers (1)
New Questions in Business
The person who receives financial protection from a life insurance plan is called a what?
Answers (1)
In 1990, Roche, a Swiss pharmaceutical company, initially invested $2.1 billion to purchase a controlling interest in the biotech startup Genentech.
Answers (1)
Five years ago, Weed Go Inc. earned $1.50 per share. Its earnings this year were $3.20. What was the growth rate in earnings per share (EPS) over the 5-year period? Group of answer choices a. 18.94% b. 18.04% c. 16.36% d. 17.18% e. 15.54%
Answers (1)
The starting salaries of individuals with an MBA degree are normally distributed with a mean of $40,000 and a standard deviation of $5,000. Refer to Exhibit 6-4.
Answers (1)
E. If the market price of wheat instead falls to $20.00 per bushel, how much wheat will Ali choose to produce per month in order to maximize his profits in the short run?
Answers (1)
Home » Business » The company paid $35,000 cash in dividends to the owner, jen rogers. the entry needed to close the dividends account is:
Sign Up Forgot Password?