EXERCISE 15-12 - 6,000,000 Cash .

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EXERCISE 15-12 (10–15 minutes) (a) 6/1 Retained Earnings . .................................. 6,000,000 Dividends Payable. ........................ 6,000,000 6/14 No entry on date of record. 6/30 Dividends Payable. ..................................
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Unformatted text preview: 6,000,000 Cash . .................................................. 6,000,000 (b) If this were a liquidating dividend, the debit entry on the date of declaration would be to Additional Paid-in Capital rather than Retained Earnings....
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