Homework Answers
Dividend per share = $ 130,000 / 130,000 shares = $ 1 per share
Number of shares with Majram Company = 70,200 shares
Dividend received = 70,200 x $1 = $ 70,200
Therefore , Correct Answer : C) Credit to Equity Method Investments for $ 70,200.
In case of any doubts or issues, please do comment below
Add Answer to:
Sawd Marjam Company owns 70,200 shares of Mackenzie Company's 130,000 outstanding shares of common stock Mackenzie...
McVeigh Corp. owns 40% of Gondor Company's common stock. McVeigh received $62,800 in cash dividends from...
McVeigh Corp. owns 40% of Gondor Company's common stock. McVeigh received $62,800 in cash dividends from Gondor. The entry to record the cash dividend received from Gondor would include Multiple Choice Credit to Cash for $62,800 Credit to Equity Method Investments for $62,800 O Credit to Equity Method Investments for $157,000 Debit to Dividend Revenue for $62.800 Debit to Dividends for $157.000 < Prev 28 of 36 Next > SAMSUNG to search
McVeigh Corp. owns 40% of Gondor Company's common stock. McVeigh received $48,400 in cash dividends from...
McVeigh Corp. owns 40% of Gondor Company's common stock. McVeigh received $48,400 in cash dividends from Gondor. The entry to record the cash dividend received from Gondor would include a: Multiple Choice Debit to Dividends for $121,000. Credit to Equity Method Investments for $48,400. Debit to Dividend Revenue for $48,400. Credit to Equity Method Investments for $121,000. Credit to Cash for $48,400.
28) An investor owns 25% of the outstanding common stock of Stokes Corporation. Stokes Corporation declares...
28) An investor owns 25% of the outstanding common stock of Stokes Corporation. Stokes Corporation declares and pays a $100,000 dividend. What journal entry should the investor prepare? A) debit Equity-Method Investment for $25,000 and credit Cash for $25,000 B) debit Cash for $25,000 and credit Equity-Method Investment for $25,000 C) debit Cash for $25,000 and credit Dividend Revenue for $25,000 D) debit Dividend Receivable for $25,000 and credit Dividend Revenue for $25,000
4. ABC Company has 180,000 shares of common stock authorized and 50,000 shares issued and outstanding. The common stock...
4. ABC Company has 180,000 shares of common stock authorized and 50,000 shares issued and outstanding. The common stock has a $1.50 Par value and a market value of $27 per share on October 10, 2016. On October 10, 2016, ABC declares and pays a 22% stock dividend to shareholders. Record all necessary journal entries. a. Assuming this is considered a SMALL Stock Dividend, record all necessary journal entries Credit Debit Accounts Date b. Assuming this is considered a LARGE...
On February 15, Jewel Company buys 8,400 shares of Marcelo Corp. common stock at $29.23 per...
On February 15, Jewel Company buys 8,400 shares of Marcelo Corp. common stock at $29.23 per share. The stock is classified as a stock investment with insignificant influence. This is the company’s first and only stock investment. On March 15, Marcelo Corp. declares a dividend of $1.50 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current...
On February 15, Jewel Company buys 10,600 shares of Marcelo Corp. common stock at $30.33 per...
On February 15, Jewel Company buys 10,600 shares of Marcelo Corp. common stock at $30.33 per share. The stock is classified as a stock investment with insignificant influence. This is the company’s first and only stock investment. On March 15, Marcelo Corp. declares a dividend of $2.05 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current...
On February 15, Jewel Company buys 9,000 shares of Marcelo Corp. common stock at $29.53 per...
On February 15, Jewel Company buys 9,000 shares of Marcelo Corp. common stock at $29.53 per share. The stock is classified as a stock investment with insignificant influence. This is the company’s first and only stock investment. On March 15, Marcelo Corp. declares a dividend of $1.65 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current...
Heidebrecht Design acquired 30% of the outstanding common stock of Quayle Company on January 1, 2015,...
Heidebrecht Design acquired 30% of the outstanding common stock of Quayle Company on January 1, 2015, by paying $822,700 for the 43,300 shares. Quayle declared and paid $0.30 per share cash dividends on March 15, June 15, September 15, and December 15, 2015. Quayle reported net income of $341,800 for the year. At December 31, 2015, the market price of Quayle common stock was $25 per share. Prepare the journal entries for Heidebrecht Design for 2015 assuming Heidebrecht Design cannot...
At January 1, the beginning of the year, a company had 10,000 common shares outstanding. On...
At January 1, the beginning of the year, a company had 10,000 common shares outstanding. On February 19, the company issued 2,000 shares; and on September 9, the company declared and distributed a 10% stock dividend. At the end of the year, how many common shares are outstanding? O 13,200 O 12,000 O 13,000 O 11,000 Armstrong Corporation has the following shareholders' equity on December 31, 2021: $570000 Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5000...
15 On February 15, Jewel Company buys 11,200 shares of Marcelo Corp. common stock at $30.63...
15 On February 15, Jewel Company buys 11,200 shares of Marcelo Corp. common stock at $30.63 per share plus a brokerage fee of $610. The stock is classified as available-for-sale securities. This is the company's first and only investment in available-for-sale securities. On March 15, Marcelo Corp. declares a dividend of $2.20 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on...
McVeigh Corp. owns 40% of Gondor Company's common stock. McVeigh received $62,800 in cash dividends from Gondor. The entry to record the cash dividend received from Gondor would include Multiple Choice Credit to Cash for $62,800 Credit to Equity Method Investments for $62,800 O Credit to Equity Method Investments for $157,000 Debit to Dividend Revenue for $62.800 Debit to Dividends for $157.000 < Prev 28 of 36 Next > SAMSUNG to search
McVeigh Corp. owns 40% of Gondor Company's common stock. McVeigh received $48,400 in cash dividends from Gondor. The entry to record the cash dividend received from Gondor would include a: Multiple Choice Debit to Dividends for $121,000. Credit to Equity Method Investments for $48,400. Debit to Dividend Revenue for $48,400. Credit to Equity Method Investments for $121,000. Credit to Cash for $48,400.
4. ABC Company has 180,000 shares of common stock authorized and 50,000 shares issued and outstanding. The common stock has a $1.50 Par value and a market value of $27 per share on October 10, 2016. On October 10, 2016, ABC declares and pays a 22% stock dividend to shareholders. Record all necessary journal entries. a. Assuming this is considered a SMALL Stock Dividend, record all necessary journal entries Credit Debit Accounts Date b. Assuming this is considered a LARGE...
Heidebrecht Design acquired 30% of the outstanding common stock of Quayle Company on January 1, 2015, by paying $822,700 for the 43,300 shares. Quayle declared and paid $0.30 per share cash dividends on March 15, June 15, September 15, and December 15, 2015. Quayle reported net income of $341,800 for the year. At December 31, 2015, the market price of Quayle common stock was $25 per share. Prepare the journal entries for Heidebrecht Design for 2015 assuming Heidebrecht Design cannot...
At January 1, the beginning of the year, a company had 10,000 common shares outstanding. On February 19, the company issued 2,000 shares; and on September 9, the company declared and distributed a 10% stock dividend. At the end of the year, how many common shares are outstanding? O 13,200 O 12,000 O 13,000 O 11,000 Armstrong Corporation has the following shareholders' equity on December 31, 2021: $570000 Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5000...
15 On February 15, Jewel Company buys 11,200 shares of Marcelo Corp. common stock at $30.63 per share plus a brokerage fee of $610. The stock is classified as available-for-sale securities. This is the company's first and only investment in available-for-sale securities. On March 15, Marcelo Corp. declares a dividend of $2.20 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on...
Most questions answered within 3 hours.
-
What is the 5% level of significance for mean = 3.60, standard
deviation = 0.94, and...
asked 6 minutes ago -
Prior to beginning work on this discussion, please read the
article by Hayley Peterson, 15 Companies...
asked 35 minutes ago -
Which pair of aqueous solutions, when mixed, will form a
precipitate?
A) NaNO3 and AgC2H3O2
B)...
asked 51 minutes ago -
1-Write an algorithm to get two numbers from the user (as
inputs) and calculate the sum...
asked 4 hours ago -
Define white-collar crime. What is the difference between
offender and offense-based definitions of white-collar crime? What...
asked 4 hours ago -
Consider a reaction which is 1st order with respect to A and 1st
order with respect...
asked 5 hours ago -
c++
The length of the hypotenuse of a right-angled triangle is the
square root of the...
asked 5 hours ago -
When a metal rod is heated, not only its resistance but also its
length and cross‐sectional...
asked 5 hours ago -
write a c++ program that computes the L^1 - Norm of a given
vector (L^1 norm...
asked 5 hours ago -
A manufacturer of banana chips would like to know whether its
bag filling machine works correctly...
asked 5 hours ago -
Complete the chapter case, "Turnover Analysis".
Chapter Case
Turnover Analysis
You recently completed your company’s new...
asked 5 hours ago -
What is the pH of solutions having the following H3O+
concentrations? Identify each as acidic, basic,...
asked 5 hours ago