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How does the declaration of a cash dividend that is entirely liquidating affect Retained Earnings and Paid-in-Capital, respectively? Select one: a
How does the declaration of a cash dividend that is entirely liquidating affect Retained Earnings and Paid-in-Capital, respectively?
Select one:
a.
No effect, No effect
b.
Increase, Decrease
c.
Decrease, Increase
d.
No effect, Decrease
e.
No effect, Increase
Expert Solution
When Cash dividend declared Retained earning decreases and current liabilities Increases.
Here is the Journal Entry for Declaration of Cash Dividend:
So, the correct option is C "Decrease, Increase".
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