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XYZ Co. paid $1,000 in dividends to stockholders. How does this transaction affect the accounts of XYZ?
a. Cash will decrease by $1,000 and retained earnings willdecrease by $1,000
b. Cash will decrease by $1,000 and revenues will increase$1,000
c. Cash will decrease by $1,000 and revenues will decrease$1,000
d. Net income will decrease by $1,000
Juanita corporation uses a job-order cost system and applies overhead on the basis of direct labour cost. At the end of october, Juanita had one job still in process. The job cost sheet for this job contained the following info:
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