Encore Industries owned investment securities with a book value of $45 million on August 12. At that time, Encore’s board of directors declared a property dividend consisting of these securities. The fair value of the securities was as follows: Declarati
Encore Industries owned investment securities with a book value of $45 million on August 12. At that time, Encore’s board of directors declared a property dividend consisting of these securities. The fair value of the securities was as follows:
Declaration – August 12 $ 58 million
Record date – September 1 62 million
Distribution date – September 20 60 million
What amount of gain should Encore recognize in earnings in connection with this property dividend?
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Encore Industries owned investment securities with a book value of $45 million on August 12. At that time, Encore’s board of directors declared a property dividend consisting of these securities. The fair value of the securities was as follows: Declarati
On September 15, 2018, the Scottie Company board of directors declared a 12% stock dividend on...
On September 15, 2018, the Scottie Company board of directors declared a 12% stock dividend on common shares. The shares are to be distributed on October 10, 2018, to shareholders of record on October 1, 2018. The market price per share on the date of declaration was $23.8 while the market price on the date of distribution was $25.8. The common stock has a par of $5 per share and there were 1,600,000 shares outstanding prior to the declaration of...
Q-12 Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,200 shares of...
Q-12
Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,200 shares of GE common stock that Adams had purchased in February for $39,600 as an investment. GE's shares had a market value of $31 per share on the declaration date. Prepare the journal entries to record the property dividend on the declaration and payment dates. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list...
Chapman Chairs, a family-owned corporation, declared and distributed a property dividend from its overstocked inventory in place of its usual cash dividend. The inventory's book value exceeded its fair value. The excess is:
Chapman Chairs, a family-owned corporation, declared and distributed a property dividend from its overstocked inventory in place of its usual cash dividend. The inventory's book value exceeded its fair value. The excess is:Multiple Choice1) Not reported.2) Reported as other comprehensive income.3) Reported as a loss.4) Reported as a direct reduction of shareholders’ equity.
($ in eees) $120,000 720,000 990,800 Common stock, 120 million shares at $1 par Paid-in capital-excess of par Retained earnings a. November 1, 2018, the board of directors declared a cash divid...
($ in eees) $120,000 720,000 990,800 Common stock, 120 million shares at $1 par Paid-in capital-excess of par Retained earnings a. November 1, 2018, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1 b. On March 1, 2019, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The...
12-6 anding on March ch 1.10, and 31 rch 1, the board of directors declared a...
12-6
anding on March ch 1.10, and 31 rch 1, the board of directors declared a cash dividend of Exercise 12-4 Cash dividend L04 On March 1, the board of direct 127.000 shares issued and outstandi record on March 10, pavable March 31. There were 141 scord the entries for March 1. 10. 2 tional shares had been issued during the month. Record the er Exercise 12-5 Issuing shares LO3, 4 Mainland Resources Inc. began operat occurred during the first...
please help finish and complete the last 3 journals entries I posted Paid-in capital: Preferred stock,...
please help finish and complete the last 3 journals entries I
posted
Paid-in capital: Preferred stock, 8.8%, 95,000 shares at $1 par Connon stock, 454,500 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,500 conmon shares Total shareholders' equity $ 95,000 454,500 1,565,000 2,615,000 9,445,000 (49,500) $14, 125,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Required: 1. Prepare the appropriate entries for...
5. Show the journal to record the declaration of cash dividends. The amount declared is $2,915...
5. Show the journal to record the declaration of cash dividends. The amount declared is $2,915 on the statement of equity. The amount actually paid on the cash flow statement is $2,905. Show journal entry here: Date Accounts Debit Credit Note-we will ignore the $1mil reduction in Retained Earnings on the Treasury Stock/other line. We aren't given enough information to re-create this journal entry. 7. We can move to the Treasury Stock Column next. We see that treasury stock was...
Required: 1. What is the amount of Apple’s accounts receivable as of September 30, 2017? 2....
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as...
Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as a deductible medical expense? A. Cost of long-term care for a developmentally disabled person in a relative’s home. B. Special school for a deaf child to learn lip reading. C. Cost of elevator installed for individual who had heart bypass surgery (in excess of increase in value of individual’s home). D. Cost and care of guide dogs used by a blind person in his...
please help with question 2 on the ratio analysis tab. I am attaching all tabs to...
please help with question 2 on the ratio analysis tab.
I am attaching all tabs to help. thanks
A B C D E F G H I Instructions 1. Please enter the data from the previous tabs by clicking on the cell and typing and then clicking on the desired cell. For example to enter Net Income for 2018 type and go to the income statement tab and click on cell 127. 2. Complete the calculations. 3. Explain the significance...
On September 15, 2018, the Scottie Company board of directors declared a 12% stock dividend on common shares. The shares are to be distributed on October 10, 2018, to shareholders of record on October 1, 2018. The market price per share on the date of declaration was $23.8 while the market price on the date of distribution was $25.8. The common stock has a par of $5 per share and there were 1,600,000 shares outstanding prior to the declaration of...
Q-12
Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,200 shares of GE common stock that Adams had purchased in February for $39,600 as an investment. GE's shares had a market value of $31 per share on the declaration date. Prepare the journal entries to record the property dividend on the declaration and payment dates. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list...
($ in eees) $120,000 720,000 990,800 Common stock, 120 million shares at $1 par Paid-in capital-excess of par Retained earnings a. November 1, 2018, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1 b. On March 1, 2019, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The...
12-6
anding on March ch 1.10, and 31 rch 1, the board of directors declared a cash dividend of Exercise 12-4 Cash dividend L04 On March 1, the board of direct 127.000 shares issued and outstandi record on March 10, pavable March 31. There were 141 scord the entries for March 1. 10. 2 tional shares had been issued during the month. Record the er Exercise 12-5 Issuing shares LO3, 4 Mainland Resources Inc. began operat occurred during the first...
please help finish and complete the last 3 journals entries I
posted
Paid-in capital: Preferred stock, 8.8%, 95,000 shares at $1 par Connon stock, 454,500 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 4,500 conmon shares Total shareholders' equity $ 95,000 454,500 1,565,000 2,615,000 9,445,000 (49,500) $14, 125,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Required: 1. Prepare the appropriate entries for...
5. Show the journal to record the declaration of cash dividends. The amount declared is $2,915 on the statement of equity. The amount actually paid on the cash flow statement is $2,905. Show journal entry here: Date Accounts Debit Credit Note-we will ignore the $1mil reduction in Retained Earnings on the Treasury Stock/other line. We aren't given enough information to re-create this journal entry. 7. We can move to the Treasury Stock Column next. We see that treasury stock was...
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
please help with question 2 on the ratio analysis tab.
I am attaching all tabs to help. thanks
A B C D E F G H I Instructions 1. Please enter the data from the previous tabs by clicking on the cell and typing and then clicking on the desired cell. For example to enter Net Income for 2018 type and go to the income statement tab and click on cell 127. 2. Complete the calculations. 3. Explain the significance...
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