Homework Answers
Journal entry
| Date | accounts and explanation | Debit | Credit |
| Dec 15 | Cash dividend (110000*5%+58000*.25) | 20000 | |
| Dividend payable | 20000 | ||
| (To record dividend declared) | |||
| Jan 4 | Dividend payable | 20000 | |
| Cash | 20000 | ||
| (To record dividend paid) | |||
FV Company earned net income of $75,000 during the year ended December 31, 2012. On December 15, FV declared the annual cash dividend on its 5% preferred stock (par value, $115,000) and a $0.50 per share cash dividend on its common stock (55,000 shares). FV then paid the dividends on January 4, 2013.
1. Journalize for FV:
2. Declaring the cash dividends on December 15, 2012.
3. Paying the cash dividends on January 4, 2013.
Add Answer to:
Hazelnut Company earned net income of $75,000 during the year ended December 31, 2018. On December...
Greenland Corporation earned net income of $95,000 during the year ended December 31, 2018. On December...
Greenland Corporation earned net income of $95,000 during the year ended December 31, 2018. On December 15, Greenland declared the annual cash dividend on its 2% preferred stock (10,000 shares with total par value of $100,000) and a $0.50 per share cash dividend on its common stock (35,000 shares with total par value of $350,000). Greenland then paid the dividends on January 4, 2019. Read the requirements. a. Journalize for Greenland Corporation the declaration for the cash dividends on December...
6. Java Company earned net income of $85,000 during the year ended December 31, 2018. On...
6. Java Company earned net income of $85,000 during the year ended December 31, 2018. On December 15, Java declared the annual cash dividend on its 4% preferred stock (par value, $120,000) and a $0.25 per share cash dividend on its common stock (50,000 shares), Java then paid the dividends on January 4, 2019. Read the requirements Requirement 1. Journalize for Java the entry declaring the cash dividends on December 15, 2018. (Record debits first, then credits. Select the explanation...
Gifford Corporation camed net income of $100.000 during the your ended December 31, 2018. On December...
Gifford Corporation camed net income of $100.000 during the your ended December 31, 2018. On December 15, Getord declared the annual cash dividend on its per share cash dividend on is common stock (40.000 shares with total per value of $400,000). Gifford then paid the dividends on January 4, 2019 preferred stock 120.000 shares with lots par value of $200,000) and a $1.00 Read the requirements Journalire for Gifford Corporation the declaration for the cash dividends on December 15, 2018....
Eatory Company red not recone et 5100.000 euro the yow ended December 21, 2016. On december...
Eatory Company red not recone et 5100.000 euro the yow ended December 21, 2016. On december 16, gry scared to run cash ovdend on to 3% preferred stock per vete. 3108.000) and a $1.00 per were candid on its common stock (58,000 shares). Largrey then paid he dividends on January 4, 2017 Requirements 1. Joumaltre for Eartgrey the entry declaring the cash dividends on December 15, 2016 2. Joumaltre for Earlgrey the entry paying the cash dividends on January 4,...
Eatory Company red not recone et 5100.000 euro the yow ended December 21, 2016. On december...
Eatory Company red not recone et 5100.000 euro the yow ended December 21, 2016. On december 16, gry scared to run cash ovdend on to 3% preferred stock per vete. 3108.000) and a $1.00 per were candid on its common stock (58,000 shares). Largrey then paid he dividends on January 4, 2017 Requirements 1. Joumaltre for Eartgrey the entry declaring the cash dividends on December 15, 2016 2. Joumaltre for Earlgrey the entry paying the cash dividends on January 4,...
Madison Company earned net income of $75,000 during the year ended December 31, 2016. On December...
Madison Company earned net income of $75,000 during the year ended December 31, 2016. On December 20, Madison declared the annual cash dividend on its 8% preferred stock (par value, $150,000) and a $0.50 per share cash dividend on its common stock (45,000 shares). Madison then paid the dividends on January 10, 2017. Prepare the journal entries to record the declaration and the distribution of the dividends. Explanations are not required.
The Accounts Receivable balance for Pilgrim, Inc. at December 31, 2017, was $24,000. During 2018, Pilgrim...
The Accounts Receivable balance for Pilgrim, Inc. at December 31, 2017, was $24,000. During 2018, Pilgrim earned revenue of $460,000 on account and collected $329,000 on account. Pilgrim wrote off $6,000 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 6% of accounts receivable. Read the requirements Requirement 1. Assume Pilgrim had an unadjusted $2,800 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Pilgrim's December 31, 2018, adjustment to record bad debts expense...
The Accounts Receivable balance for Southside Company at December 31, 2017, was $26,000. During 2018, Southside...
The Accounts Receivable balance for Southside Company at December 31, 2017, was $26,000. During 2018, Southside earned revenue of $459,000 on account and collected $323,000 on account. Southside wrote off $5,800 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 2% of accounts receivable. Read the requirements Requirement 1. Assume Southside had an unadjusted $2,500 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Southside's December 31, 2018, adjustment to record bad debts expense...
Company earned net income of $ 110 comma 000 during the year ended December 31, 2018...
Company earned net income of $ 110 comma 000 during the year ended December 31, 2018 . On December 15, Whitetea declared the annual cash dividend on its 6 % preferred stock (par value, $ 118 comma 000 ) and a $1.00 per share cash dividend on its common stock left parenthesis 45 comma 000 shares). Whitetea then paid the dividends on January 4, 2019 .
The Accounts Receivable balance for Lantana Company at December 31, 2017, was $26,000. During 2018. Lantana...
The Accounts Receivable balance for Lantana Company at December 31, 2017, was $26,000. During 2018. Lantana earned revenue of $460,000 on account and collected $329,000 on account. Lantana wrote off $6,200 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 3% of accounts receivable. Read the requirements Requirement 1. Assume Lantana had an unadjusted $2,300 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Lantana's December 31, 2018, adjustment to record bad debts expense...
Greenland Corporation earned net income of $95,000 during the year ended December 31, 2018. On December 15, Greenland declared the annual cash dividend on its 2% preferred stock (10,000 shares with total par value of $100,000) and a $0.50 per share cash dividend on its common stock (35,000 shares with total par value of $350,000). Greenland then paid the dividends on January 4, 2019. Read the requirements. a. Journalize for Greenland Corporation the declaration for the cash dividends on December...
6. Java Company earned net income of $85,000 during the year ended December 31, 2018. On December 15, Java declared the annual cash dividend on its 4% preferred stock (par value, $120,000) and a $0.25 per share cash dividend on its common stock (50,000 shares), Java then paid the dividends on January 4, 2019. Read the requirements Requirement 1. Journalize for Java the entry declaring the cash dividends on December 15, 2018. (Record debits first, then credits. Select the explanation...
Gifford Corporation camed net income of $100.000 during the your ended December 31, 2018. On December 15, Getord declared the annual cash dividend on its per share cash dividend on is common stock (40.000 shares with total per value of $400,000). Gifford then paid the dividends on January 4, 2019 preferred stock 120.000 shares with lots par value of $200,000) and a $1.00 Read the requirements Journalire for Gifford Corporation the declaration for the cash dividends on December 15, 2018....
Eatory Company red not recone et 5100.000 euro the yow ended December 21, 2016. On december 16, gry scared to run cash ovdend on to 3% preferred stock per vete. 3108.000) and a $1.00 per were candid on its common stock (58,000 shares). Largrey then paid he dividends on January 4, 2017 Requirements 1. Joumaltre for Eartgrey the entry declaring the cash dividends on December 15, 2016 2. Joumaltre for Earlgrey the entry paying the cash dividends on January 4,...
Eatory Company red not recone et 5100.000 euro the yow ended December 21, 2016. On december 16, gry scared to run cash ovdend on to 3% preferred stock per vete. 3108.000) and a $1.00 per were candid on its common stock (58,000 shares). Largrey then paid he dividends on January 4, 2017 Requirements 1. Joumaltre for Eartgrey the entry declaring the cash dividends on December 15, 2016 2. Joumaltre for Earlgrey the entry paying the cash dividends on January 4,...
The Accounts Receivable balance for Pilgrim, Inc. at December 31, 2017, was $24,000. During 2018, Pilgrim earned revenue of $460,000 on account and collected $329,000 on account. Pilgrim wrote off $6,000 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 6% of accounts receivable. Read the requirements Requirement 1. Assume Pilgrim had an unadjusted $2,800 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Pilgrim's December 31, 2018, adjustment to record bad debts expense...
The Accounts Receivable balance for Southside Company at December 31, 2017, was $26,000. During 2018, Southside earned revenue of $459,000 on account and collected $323,000 on account. Southside wrote off $5,800 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 2% of accounts receivable. Read the requirements Requirement 1. Assume Southside had an unadjusted $2,500 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Southside's December 31, 2018, adjustment to record bad debts expense...
The Accounts Receivable balance for Lantana Company at December 31, 2017, was $26,000. During 2018. Lantana earned revenue of $460,000 on account and collected $329,000 on account. Lantana wrote off $6,200 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 3% of accounts receivable. Read the requirements Requirement 1. Assume Lantana had an unadjusted $2,300 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Lantana's December 31, 2018, adjustment to record bad debts expense...
Most questions answered within 3 hours.
-
5. Explain the condition for a DC motor to develop the
maximum power. If a DC...
asked 5 minutes ago -
Compute the p[Ag] after 35.00 mL of 0.1 M silver nitrate has been
added to the...
asked 8 minutes ago -
Walgreen Company (NYSE: WAG) is currently trading at $48.50 on
the NYSE. Walgreen Company is also...
asked 22 minutes ago -
Based on historical data, your team knows what proportion of the
company's orders come from Males...
asked 40 minutes ago -
8. Which of the following atoms has the largest magnitude
electron affinity?
(a) Sodium (Na)
(b)...
asked 42 minutes ago -
Assess the two types of tests of cognitive abilities. (
regarding HR course)
asked 47 minutes ago -
1.Write an inspiring vision statement for an organization where
you work or have worked. If the...
asked 48 minutes ago -
2. Is fair trade coffee sustainable for the mass market,
or is it a niche product...
asked 49 minutes ago -
Please answer this asap in MATLAB.
In the following for loop, the the loop is executed...
asked 1 hour ago -
A 50.0-g golf ball is driven from the tee with an initial speed
of 44.6 m/s...
asked 56 minutes ago -
Use the molar concentration of the 50 mL solution to calculate
the moles of Cr(III) in...
asked 59 minutes ago -
Calculate the molarity of Fe3+ in solution A.
Solution A: 10 mL of 0.0600 M Fe(No3)3 ...
asked 1 hour ago