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On February 16, Hawthorne Co. declares a $0.68 dividend to be paid on April 5. Hawthorne has 1,900,000 shares of common stock issued and outstanding. The entry recorded by the company on February 16 includes a debit to: Multiple ChoiceDividends and a credit to Dividends Payable for $1,360,000.Dividends Payable and a credit to Cash for $1,360,000. Dividends and a credit to Dividends Payable for $1.292,000. Dividends Payable and a credit to Cash for $1,292,000.

Answer :

Tutorconsortium122go

The entry recorded by the company on February 16 includes a debit to

Dividends Payable and a credit to Cash for $1,292,000.

What is Common Stocks?

  • A common kind of financial asset is common stock, which allows investors to purchase shares in a publicly listed corporation. The riskiness and price performance of common stocks vary widely, yet they typically increase in value over time.
  • Common investors normally receive voting privileges and dividends on periodic basis.
  • Common stocks are listed on the balance sheet as the total number of a company's shares. The company's owners are its common stockholders, who also have voting rights and are entitled to dividends. They could be outside investors, insiders, or firm promoters. Number of Issued Shares - Treasury Stocks = Common Stock (Outstanding Shares).

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