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Sumatra Ltd declared a final dividend of 8 cents per ordinary shares on 30 June...

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Accounting

Sumatra Ltd declared a final dividend of 8 cents per ordinary shares on 30 June 2020. The companys share register noted that there were 2,000,000 ordinary shares listed. The dividend was paid on 30 September 2020. What would be the General Journal entry at 30 September 2020 to record the payment of the final dividend? Group of answer choices

DR: Dividend payable $160,000 CR: Cash $160,000

DR: Share capital $160,000 CR: Cash $160,000

DR: Cash $160,000 CR: Dividends payable 160,000

DR: Retained earnings $160,000 CR: Cash $160,000

2When a second-hand building is purchased which of the following should be recognised in a separate asset account instead of being debited to the building account? Group of answer choices

The cost of installing an air conditioning system

Legal fees for the purchase of the building Stamp duty paid on the building purchase

Expenditure on initial repairs to the floor of the building

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