1. When does a dividend get recorded in the books? When does it get paid? (Hint:...
1. When does a dividend get recorded in the books? When does it get paid? (Hint: see definitions of declaration date, record date, payment date)
2. Explain the effect of stock dividends and stock splits.
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1. When does a dividend get recorded in the books? When does it
get paid? (Hint:...
Please write the steps to get the answers. P15.7 (LO 3) (Cash Dividend Entries) The books...
Please write the steps to get the answers.
P15.7 (LO 3) (Cash Dividend Entries) The books of Conchita Corporation carried the following account balances as of December 31, 2020. Cash 195,000 Preferred Stock (6% cumulative, 300,000 nonparticipating, $50 par) Common Stock (no-par value, 300,000 1,500,000 shares issued) Paid-in Capital in Excess of Par-Preferred 150,000 Stock Treasury Stock (common 2,800 shares at 33,600 cost) Retained Earnings 105,000 The company decided not to pay any dividends in 2020. The board of directors,...
Please complete the following definitions 2 – a) Which is more critical to the dividend decision,...
Please complete the following definitions 2 – a) Which is more critical to the dividend decision, earnings or cash flow? Explain. b) Suppose the Board of Directors of The Staten Island Suppliers Co. announces on October 4th that the regular quarterly dividend of 50 cents per share will be payable to the holders of record at the close of business on November 15th 2019. What date is the declaration date, the holder of record date, the ex-dividend date, and the...
Dividends Stock Splits 1) The board of directors voted for a 2:1 stock split. Prior to...
Dividends Stock Splits 1) The board of directors voted for a 2:1 stock split. Prior to the split, the company had 50,000 shares of $10 par common stock. What is the effect of the stock split? If a journal entry is required, then include in your answer. 2) Create the journal entry if ABC Company declares and pays a property dividend payable in bonds of DEF Company (bonds are being held to maturity and are carried on ABC’s books at...
Cash dividends involve three events. On the date of declaration, the directors bind the company to...
Cash dividends involve three events. On the date of declaration, the directors bind the company to pay the dividend. A dividend declaration reduces retained earnings and creates a current liability. On the date of record recipients of the dividend are identified. On the date of payment, cash is paid to stockholders and the current liability is removed. Neither a stock dividend nor a stock split alters company value. However, the value of each share is less due to the distribution...
P15.7 (LO 3) (Cash Dividend Entries) account balances as of December 31, 2020. The books of...
P15.7 (LO 3) (Cash Dividend Entries) account balances as of December 31, 2020. The books of Conchita Corporation carried the following Cash Preferred Stock (6% cumulative, nonparticipating, $50 par) Common Stock (no-par value, 300,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Treasury Stock (common 2,800 shares at cost) Retained Earnings $ 195,000 300,000 1,500,000 150,000 33,600 105,000 The company decided not to pay any dividends in 2020. The board of directors, at their annual meeting on December 21,...
journal Cash dividends involve three events. On the date of declaration, the directors bind the company...
journal
Cash dividends involve three events. On the date of declaration, the directors bind the company to pay the dividend. A dividend declaration reduces retained earnings and creates a current liability. On the date of record, recipients of the dividend are identified. On the date of payment, cash is paid to stockholders and the current liability is removed. Neither a stock dividend nor a stock split alters company value. However, the value of each share is less due to the...
P15.7 (LO 3) (Cash Dividend Entries) The books of Conchita Corporation carried the following account balances...
P15.7 (LO 3) (Cash Dividend Entries) The books of Conchita Corporation carried the following account balances as of December 31, 2020. $ 195,000 Cash Preferred Stock (6% cumulative, nonparticipating, $50 par) Common Stock (no-par value, 300,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Treasury Stock (common 2,800 shares at cost) Retained Earnings 300,000 1,500,000 150,000 33,600 105,000 The company decided not to pay any dividends in 2020. The board of directors, at their annual meeting on December 21,...
Please answer a,b,c,d,e. thank you! Dividend payment procedures At the quarterly dividend meeting, Wood Shoes declared...
Please answer a,b,c,d,e. thank you!
Dividend payment procedures At the quarterly dividend meeting, Wood Shoes declared a cash dividend of $1.13 per share for holders of record on Monday, July 10. The firm has 400,000 shares of common stock outstanding and has set a payment date of July 31. Prior to the dividend declaration, the firm's key accounts were as follows: Cash $700,000 Dividends payable Retained eamings 2,600,000 a. Show the entries after the meeting adjouned. b. When is the...
1.Dividend payments* In 2017, Entergy paid a regular quarterly dividend of $.89 per share. a. Match...
1.Dividend payments* In 2017, Entergy paid a regular quarterly dividend of $.89 per share. a. Match each of the following dates. (AI) Friday, October 27 (BI) Record date (A2) Tuesday, November 7 (A3) Wednesday, November 8 (A4) Thursday, November 9 (A5) Friday, December 1 (B2) Payment date (B3) Ex-dividend date (B4) Last with-dividend date (B5) Declaration date b. On one of these dates, the stock price fell by about $.89. Which date? Why? c. Entergy's stock price in November 2017...
Cash and Stock Dividends Debra Corporation has 24,000 shares of $1 par value common stock outstanding....
Cash and Stock Dividends Debra Corporation has 24,000 shares of $1 par value common stock outstanding. The company has $200,000 of retained earnings. At year-end, the company declares a cash dividend of $2.00 per share and a five percent stock dividend. The market price of the stock at the declaration date is $24 per share. Three weeks later, the company pays the dividends. a. Prepare the journal entry for the declaration of the cash dividend. b. Prepare the journal entry...
Please write the steps to get the answers.
P15.7 (LO 3) (Cash Dividend Entries) The books of Conchita Corporation carried the following account balances as of December 31, 2020. Cash 195,000 Preferred Stock (6% cumulative, 300,000 nonparticipating, $50 par) Common Stock (no-par value, 300,000 1,500,000 shares issued) Paid-in Capital in Excess of Par-Preferred 150,000 Stock Treasury Stock (common 2,800 shares at 33,600 cost) Retained Earnings 105,000 The company decided not to pay any dividends in 2020. The board of directors,...
Cash dividends involve three events. On the date of declaration, the directors bind the company to pay the dividend. A dividend declaration reduces retained earnings and creates a current liability. On the date of record recipients of the dividend are identified. On the date of payment, cash is paid to stockholders and the current liability is removed. Neither a stock dividend nor a stock split alters company value. However, the value of each share is less due to the distribution...
P15.7 (LO 3) (Cash Dividend Entries) account balances as of December 31, 2020. The books of Conchita Corporation carried the following Cash Preferred Stock (6% cumulative, nonparticipating, $50 par) Common Stock (no-par value, 300,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Treasury Stock (common 2,800 shares at cost) Retained Earnings $ 195,000 300,000 1,500,000 150,000 33,600 105,000 The company decided not to pay any dividends in 2020. The board of directors, at their annual meeting on December 21,...
journal
Cash dividends involve three events. On the date of declaration, the directors bind the company to pay the dividend. A dividend declaration reduces retained earnings and creates a current liability. On the date of record, recipients of the dividend are identified. On the date of payment, cash is paid to stockholders and the current liability is removed. Neither a stock dividend nor a stock split alters company value. However, the value of each share is less due to the...
P15.7 (LO 3) (Cash Dividend Entries) The books of Conchita Corporation carried the following account balances as of December 31, 2020. $ 195,000 Cash Preferred Stock (6% cumulative, nonparticipating, $50 par) Common Stock (no-par value, 300,000 shares issued) Paid-in Capital in Excess of Par-Preferred Stock Treasury Stock (common 2,800 shares at cost) Retained Earnings 300,000 1,500,000 150,000 33,600 105,000 The company decided not to pay any dividends in 2020. The board of directors, at their annual meeting on December 21,...
Please answer a,b,c,d,e. thank you!
Dividend payment procedures At the quarterly dividend meeting, Wood Shoes declared a cash dividend of $1.13 per share for holders of record on Monday, July 10. The firm has 400,000 shares of common stock outstanding and has set a payment date of July 31. Prior to the dividend declaration, the firm's key accounts were as follows: Cash $700,000 Dividends payable Retained eamings 2,600,000 a. Show the entries after the meeting adjouned. b. When is the...
1.Dividend payments* In 2017, Entergy paid a regular quarterly dividend of $.89 per share. a. Match each of the following dates. (AI) Friday, October 27 (BI) Record date (A2) Tuesday, November 7 (A3) Wednesday, November 8 (A4) Thursday, November 9 (A5) Friday, December 1 (B2) Payment date (B3) Ex-dividend date (B4) Last with-dividend date (B5) Declaration date b. On one of these dates, the stock price fell by about $.89. Which date? Why? c. Entergy's stock price in November 2017...
Cash and Stock Dividends Debra Corporation has 24,000 shares of $1 par value common stock outstanding. The company has $200,000 of retained earnings. At year-end, the company declares a cash dividend of $2.00 per share and a five percent stock dividend. The market price of the stock at the declaration date is $24 per share. Three weeks later, the company pays the dividends. a. Prepare the journal entry for the declaration of the cash dividend. b. Prepare the journal entry...
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