1.    An entity declared a cash dividend on its common stock in December

Which of the following can be used to estimate the standalone
May 5, 2020
The following information is related to Towson Company’s fiscal year 2018.
May 5, 2020

1.    An entity declared a cash dividend on its common stock in December

Year 1, payable in January Year 2. Retained earnings will
a.     Increase on the date of declaration.
b.    Not be affected on the date of declaration.
c.     Not be affected on the date of payment.
d.    Decrease on the date of payment.

 
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