A company declared a $0.80 per share cash dividend. The companyhas 100,000 shares authorized, 45,000

A company declared a $0.80 per share cash dividend. The companyhas 100,000 shares authorized, 45,000 shares issued, and 42,000shares of common stock outstanding. What is the journal entry torecord the dividend declaration? Debit Dividends and credit Dividends Payable for $36,000 Debit Dividends and credit Dividends Payable for $33,600 Debit Dividends Payable and credit Cash for $36,000 Debit Dividends Payable and credit Cash for $80,000 The Retained Earnings balance was $22,900 on January 1. Netincome for the year was $18,100. If Retained Earnings had a creditbalance of $23,800 after closing entries were made for the year,and if additional stock of $5,200 was issued during the year, whatwas the amount of dividends declared during the year? $17,200 $23,700 $23,300 $13,000 A company reported net income of $6 million. During the year theaverage number of common shares outstanding was 3 million. Theprice of a share of common stock at the end of the year was $5.There were 400,000 shares of preferred stock outstanding on averageand no dividends were declared and the preferred stock isnoncumulative. Use the information above to answer the following question. TheEPS is approximately: $0.40. $1.76. $1.86. $2.00. Use the information above to answer the following question. ThePrice/Earnings ratio is approximately: 2.00. 2.50. 2.84. 12.50. . . .

 

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