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11 months ago

The date the board of directors votes to declare and pay a cash dividend is called the?

1 answer:

5 0

The date the board of directors votes to declare and pay a cash dividend is called the date of declaration.

<h3>What does the declaration date mean?</h3>

A declaration date refers the date on which the board of directors of a company announces the next date of dividend payment. The board of directors of a company announces a cash dividend on a declaration date, which involve paying a certain amount of money per common share.

A declaration statement is issued that mainy includes the details such as the size of the dividend, the record date and its payment date.

Basically, the date on which the directors vote to declare and pay a dividend is called the declaration date.

Learn more about declaration date here:-

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On December 31, the Income Summary account of Madison Company has a debit balance of $111,000 after revenue of $117,000 and expe

loris [4]

Answer:

a) See the image attached for the sheet of closing entry

b) New balance = (174000-111000-12000) = 51000

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3 years ago

The following is the stockholders' equity section of Harbor Co.'s balance sheet on December 31:Common stock $10 par, 100,000 sha

AnnyKZ [126]

Answer:

Book value per share: 48.88

Explanation:

The book value per share is the minimun value of the company equity.

Book value per share = (Total Equity - Preferd Equity) / Total shares outstanding

Book value per share = 2,200,000 / 45,000

Book value per share = 48.88

In the numerator, we do not deduct anything from equity because there are no preferred shares. In the dividend, the outstanding shares are 45,000, because 50,000 have been issued and 5,000 are held in treasury, despite being authorized to issue 100,000 shares.

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2 years ago

During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $6 per

kupik [55]

Answer:

$192,000

Explanation:

Calculation for What is the value of ending inventory under variable costing

Using this formula

Value of ending inventory =[(Direct materials+Direct labor+Variable overhead+(Fixed overhead/Units produced)×Ending units in inventory]

Let plug in the formula

Value of ending inventory=[($6+ $4+ $5 + ($234,000/26,000 units) ×8,000 units]

Value of ending inventory= ($15 units+$9 units)×8,000 units

Value of ending inventory=$24 per units×8,000 units

Value of ending inventory = $192,000

Therefore the value of ending inventory under variable costing will be $192,000

8 0

2 years ago

Bramble Corp. reported the following items for 2016: Income tax expense $62000 Contribution margin 180000 Controllable fixed cos

Ivenika [448]

Answer:

controllable margin = $100,000

Explanation:

given data

Income tax expense = $62000

Contribution margin = 180000

fixed costs = 80000

Interest expense = 68000

Total operating assets = 40000

to find out

How much is controllable margin

solution

we get here controllable margin that is express as

controllable margin = contribution - controllable fixed cost ....................1

put here value we get

controllable margin = 180000 - 80000

controllable margin = $100,000

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2 years ago

The Company deposits $6,900 in an account that earns interest at an annual rate of 8%, compounded quarterly. The $6,900 plus ear

astra-53 [7]

Answer:

$8750.87

Explanation:

This is compound interest problem. The formula used to solve this would be:

$F=P(1+r)^t$

Where

F is the future value (what we want, after 3 years)

P is the initial value (given 6900)

r is the rate of interest per period

here, 8% per year, so 8/4 = 2% per period (since compounded per quarter)

t is the time (3 years and compounding per year so times of compounding is 3*4 = 12), so t = 12

Substituting, we get our answer:

$F=P(1+r)^t\\F=6900(1+0.02)^{12}\\F=6900(1.02)^{12}\\F=8750.87$

<u>There will be about $8750.87 at the account at the end of 3 years!</u>

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2 years ago