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1 year ago

The closing entry for dividends involves a debit to and a credit to . (Select all that apply.)

1 answer:

7 0

The closing entry for dividends involves a debit to <u>A. Retained Earnings</u> and a credit to <u>Dividends</u>.

<h3>What is a closing entry?</h3>

A closing entry is the journal entry at the end of the accounting period so that temporary ledger accounts (mainly income statement items) are moved to permanent accounts (balance sheet items).

<h3>Answer Options:</h3>

A. Retained Earnings; Dividends

B. Dividends; Retained Earnings

C. Dividends; Dividends Payable

D. Dividends Payable; Dividends

Thus, the closing entry for dividends is a debit to Retained Earnings, which is a permanent account, and a credit to Dividends (a temporary account).

Learn more about closing entries at brainly.com/question/13408214

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3 years ago

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The stock is now trading at $52.16 per share.

The current value of an annuity of n regular payments of P at r% with yearly payments is provided by:

PV = P × (1 -( $(1 + r) ^{-n}$ ÷r))

Estes Park Corp. distributes a fixed rate of a dividend of P = $7.80 per share on its shares. The corporation will retain this dividend for the following n = 13 years before ceasing dividend payments permanently. If the necessary returns on this stock are not metis r = 11.2% = 0.112.

The actual share price is calculated as follows:

Current share price = $7.80 × (1 -( $(1 + 0.112) ^{-13}$ ÷0.112))

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The closing entry for dividends involves a debit to ______ and a credit to ______. (Select all that apply.)

The closing entry for dividends involves a debit to and a credit to . (Select all that apply.)