Q.22. Templeton Company declared a $250,000 cash dividendpayable to common stockholders when its retained earnings had abalance of $175,000. How will the dividend be accounted for?a.Retained earnings will be reduced by the entire $250,000,resulting in a deficit balance of $75,000.b.Retained earnings is reduced to zero and the remaining $75,000is recognized as an expense.c.Retained earnings is reduced to zero and the remaining $75,000reduces the balance in additional paid in capital.d.Retained earnings is reduced to zero and the remaining $75,000reduces the balance in common stock.
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