Homework Answers
Journal entry
| Date | accounts | Debit | Credit |
| Feb 5 | Cash dividend (1300000*.10) | 130000 | |
| Dividend payable | 130000 | ||
Journal entry
| Date | accounts | Debit | Credit |
| Mar 18 | Dividend payable | 130000 | |
| Cash | 130000 | ||
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On February 5, 2018, Cinch Rental Corporation's board of directors declared a dividend of $0.10, to...
S10-9 (similar to) Assigned Media Question Help On February 5, 2018, Fast Rental Corporation's board of...
S10-9 (similar to) Assigned Media Question Help On February 5, 2018, Fast Rental Corporation's board of directors declared a dividend of $0.14. to be paid on March 18, 2018, to the shareholders of record as of the close of business on March 9, 2018. Fast has 5,500,000 shares of $0.01 par-value common stock authorized with 800,000 shares issued and outstanding. The company has no preferred stock. Record the declaration of the dividend and the payment of the dividend. Include the...
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...
On September 15, 2018, the Scottie Company board of directors declared a 10% stock dividend on...
On September 15, 2018, the Scottie Company board of directors declared a 10% 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 $26 while the market price on the date of distribution was $28. The common stock has a par value of $5 per share and there were 1,000,000 shares outstanding prior to the declaration...
On November 27, the board of directors of Beth Company declared a 5.60 per share dividend....
On November 27, the board of directors of Beth Company declared a 5.60 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Beth has 25,500 shares of 1 par common stock outstanding at November 27 Journaline the entries needed on the declaration and payment dates. (Credit accountries are automatically indented when mount is entered. Do not inden manly. If no entry is required select "No Entry for the account bles and enter...
Testbank, Question 79 On July 15, 2018, the board of directors of George Easton Limited declared...
Testbank, Question 79 On July 15, 2018, the board of directors of George Easton Limited declared a cash dividend of $0.50 per share on 84,000 common shares. The dividend is to be paid on August 15, 2018, to shareholders of record on July 31, 2018. The effects of the journal entry to record the declaration of the dividend on July 15, 2018, are to decrease shareholders' equity and decrease assets. o decrease shareholders' equity and increase liabilities. o increase shareholders'...
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on...
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $33 on June 13 Complete the below table to calculate the stock dividend. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete...
The board of directors declared a $2 per share cash dividend on common stock and the...
The board of directors declared a $2 per share cash dividend on common stock and the corporation had 5,000 shares authorized and 4,000 shares outstanding and make a journal entry. The journal entry for the dividend payment would be
The board of directors of Capstone Inc. declared a $0.50 per share cash dividend on its...
The board of directors of Capstone Inc. declared a $0.50 per share cash dividend on its $2 par common stock. On the date of declaration, there were 49,000 shares authorized, 17,000 shares issued, and 6,000 shares held as treasury stock. -- What is the entry when the dividends are declared? 20:51 A. ,500 B. 5,500 Dividends 5 Dividends Payable Dividends Cash Dividends Dividends Payable Dividends555338 24,500 00 INIT 1- lulu ul ,500 Cash Multiple Choice
On September 15, 2020, the Board of Directors of Tamarisk Company declared a 90¢ per share...
On September 15, 2020, the Board of Directors of Tamarisk
Company declared a 90¢ per share cash dividend, payable on October
31 to shareholders of record as of October 1. On the date of
declaration, Tamarisk Company had 205,000 common shares
outstanding, of which 27,000 were held in Treasury. On October 15,
2020, the company issued an additional 60,000 common shares for
$6.00 each.
Prepare all the required journal entries to record these
transactions. (Credit account titles are automatically
indented...
In March 2018, thel Board of Directors of Token Limited declared a cash dividend, payable the...
In March 2018, thel Board of Directors of Token Limited declared a cash dividend, payable the first of April. Required: Prepare a residual analysis for the dividend declaration in March In your analysis, include a discussion of the accounts debited and credited.
S10-9 (similar to) Assigned Media Question Help On February 5, 2018, Fast Rental Corporation's board of directors declared a dividend of $0.14. to be paid on March 18, 2018, to the shareholders of record as of the close of business on March 9, 2018. Fast has 5,500,000 shares of $0.01 par-value common stock authorized with 800,000 shares issued and outstanding. The company has no preferred stock. Record the declaration of the dividend and the payment of the dividend. Include the...
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...
On November 27, the board of directors of Beth Company declared a 5.60 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Beth has 25,500 shares of 1 par common stock outstanding at November 27 Journaline the entries needed on the declaration and payment dates. (Credit accountries are automatically indented when mount is entered. Do not inden manly. If no entry is required select "No Entry for the account bles and enter...
Testbank, Question 79 On July 15, 2018, the board of directors of George Easton Limited declared a cash dividend of $0.50 per share on 84,000 common shares. The dividend is to be paid on August 15, 2018, to shareholders of record on July 31, 2018. The effects of the journal entry to record the declaration of the dividend on July 15, 2018, are to decrease shareholders' equity and decrease assets. o decrease shareholders' equity and increase liabilities. o increase shareholders'...
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $33 on June 13 Complete the below table to calculate the stock dividend. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete...
The board of directors of Capstone Inc. declared a $0.50 per share cash dividend on its $2 par common stock. On the date of declaration, there were 49,000 shares authorized, 17,000 shares issued, and 6,000 shares held as treasury stock. -- What is the entry when the dividends are declared? 20:51 A. ,500 B. 5,500 Dividends 5 Dividends Payable Dividends Cash Dividends Dividends Payable Dividends555338 24,500 00 INIT 1- lulu ul ,500 Cash Multiple Choice
On September 15, 2020, the Board of Directors of Tamarisk
Company declared a 90¢ per share cash dividend, payable on October
31 to shareholders of record as of October 1. On the date of
declaration, Tamarisk Company had 205,000 common shares
outstanding, of which 27,000 were held in Treasury. On October 15,
2020, the company issued an additional 60,000 common shares for
$6.00 each.
Prepare all the required journal entries to record these
transactions. (Credit account titles are automatically
indented...
In March 2018, thel Board of Directors of Token Limited declared a cash dividend, payable the first of April. Required: Prepare a residual analysis for the dividend declaration in March In your analysis, include a discussion of the accounts debited and credited.
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