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Tropical Co
Tropical Co. declared a cash dividend of S30,000. This transaction include
Tropical Co, declared a cash dividend of $30,000. This transaction includes a(n) 8 9 increase to Retained Earnings of $30,000, 10 decrease to Cash Dividend Payable of $30,000 decrease to Cash of $30,000 decrease to Retained Earnings of $30,000.
Expert Solution
Tropical Co. dividend a cash dividend of $30,000. At this point no cash has been decreased because it has not paid yet, only declared. Further this will increase the cash dividend payable by $30,000 & decrease the retained earnings by $30,000.
Hence option D is the correct answer
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