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What is effect on financial statements because of payment

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Problem 1: On July 1, Afghan Corporation declared a dividend to be paid on August 4. What is the effect on the financial statements because of the payment on August 4?

Option 1: Liabilities decrease and equity increases
Option 2: Liabilities increase and profits decrease
Option 3: Assets decrease and liabilities decrease
Option 4: Liabilities increase and equity decreases
Option 5: None of these

Reference no: EM132944371

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