Dividends declared are reported on the:
A)Income Statement.
B)Statement of Retained Earnings.
C)Balance Sheet.
D)Statement of Assets.

Question

Quizplus · Accepted Answer

Dividends declared are a distribution of retained earnings, so they are reported on the Statement of Retained Earnings. The Income Statement reports revenue, expenses, and net income or loss. The Balance Sheet reports assets, liabilities, and stockholders' equity. The Statement of Assets is not a commonly used financial statement.

Dividends Declared Are Reported on The