Niren, Inc.'s charter authorizes 1,000,000 shares of stock at a par value of $1 per share. Niren sells 100 shares of stock at Its initial offering for $1 per share. The journal entry to record this transaction will include to Common Stock, $1 par for $ (debit/credit) The board of directors of Anchor, Inc. authorizes a $0.50 cash dividend to its 100,000 shares of common stock issued and outstanding. On the date of payment, a journal entry will include which of the following accounts? (Check all that apply) Check all that apply.
Credit to Common Dividend Payable
Debit to Common Dividend Payable
Debit to Retained Earnings
Credit to Retained Earnings
Debit to Cash
Credit to Cash

Share Sales : DR Cash Account $100 and CR Common Stock $100

Authorized Cash Dividend  : R Retained Earning $50,000  and  CR Common Stock Dividend payable Account $50,000

Explanation:

Share Sales :

DR Cash Account $100 and CR Common Stock $100

Authorized Cash Dividend :

DR Retained Earning $50,000 (0.5 X 100,000) and  CR Common Stock Dividend payable Account $50,000

When dividend is eventually paid, CR Cash Account and DR Dividend Payable Account.

Almost any Consumer Services enterprise is amenable to the entrepreneur, from personal services like pet care and yard maintenance to a clinical psychology and counseling practice. Particularly fertile in our current business landscape are Consumer Services tied to computers, electronics, the Internet, and social media.

Explanation: