Which accounts are affected when a dividend elimination entry occurs?
A) Dividend revenue and dividend paid
B) Cash and dividend revenue
C) Dividend revenue and dividend declared
D) Dividend declared and cash

Question

Quizplus · Accepted Answer

A dividend elimination entry affects dividend revenue and dividend declared, as it adjusts the accounts to eliminate the effects of intercompany dividends in consolidated financial statements.

Which Accounts Are Affected When a Dividend Elimination Entry Occurs