A company declared and paid dividends of $1800. How does this transaction affect the accounting equation?
A) Add $1800 to Revenue and add $1800 to Cash.
B) Add $1800 to Dividends and add $1800 to Accounts Receivable.
C) Subtract $1800 from Retained Earnings and subtract $1800 from Cash.
D) Add $1800 to Dividend Expense and subtract $1800 from Cash.
C
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During a period of declining inventory costs, which of the following inventory costing methods should be used by a company that intends to minimize its income tax expenses?
A) first-in, first-out B) last-in, first-out C) weighted-average D) specific identification
In appraising a property with two bathrooms, the appraiser used a comparable property with 2 1/2 baths. The appraiser should:
a. add the cost of the half bath to the subject property. b. deduct the cost of the half bath from the sale price of the comparable property. c. disregard the difference since it is insignificant. d. add the cost of the half bath to the comparable property.