1 answer

Vaughn Manufacturing paid dividends of $5100. As a result of this event, the Cash account was...

Question:

Vaughn Manufacturing paid dividends of $5100. As a result of this event, the

Cash account was increased by $5100.

Cash account was increased and the Dividends account was decreased by $5100.

Dividends account was increased by $5100.

Dividends account was decreased by $5100.


Answers

Answer) Dividends accounts was increased by $5,100.

Journal Entries:-

Dividends A/c   Dr.

To Dividend Payable A/c

(Being Dividend declared)

Dividend payable a/c Dr

To cash a/c

(being dividend paid)

.

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