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  3. 20) hutter corporation declared a $0.50 per share

20) Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The...

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Accounting

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20) Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 42,000 shares authorized, 22,200 shares issued, and 16,800 shares of common stock outstanding. The journal entry to record the dividend declaration is: A) Debit Retained Earnings $8400; credit Common Dividends Payable $8400. B) Debit Common Dividends Payable $8400; credit Cash $8400. C) Debit Common Dividends Payable $11,100; credit Cash $11,100. D) Debit Retained Earnings $11,100; credit Common Dividends Payable $11,100. E) Debit Retained Earnings $21,000; credit Common Dividends Payable $21,000. 21) A company's board of directors votes to declare a cash dividend of $1.30 per share of common stock. The company has 26,000 shares authorized, 21,000 issued, and 20,500 shares outstanding. The total amount of the cash dividend is: C) S32,800. - A) $53,950. B) $33,800. D) $26,650. E) $27,300

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