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Paladinen [302]
3 years ago
7

Divine Apparel has 3,100 shares of common stock outstanding. On October 1, the company declares a $0.75 per share dividend to st

ockholders of record on October 15. The dividend is paid on October 31. Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)1) Record the declaration of cash dividends.2) Record the entry on date of record.3) Record the payment of cash dividends
Business
1 answer:
Naya [18.7K]3 years ago
7 0

Answer:

1.

                                                                              Debit                         Credit

Retained Earnings ($0.75*3,100)                         $2,325

Dividend payable                                                                                    $2,325

2. "No Journal Entry Required"

3.

                                                                              Debit                         Credit

Dividend payable                                                 $2,325

Cash                                                                                                        $2,325

Explanation:

The following journal entries will be required to be made

1. Recording declaration of dividend

The Divine Apparel shall record the the following journal entry on October 1 in respect of dividend declared by it.

                                                                              Debit                         Credit

Retained Earnings ($0.75*3,100)                         $2,325

Dividend payable                                                                                    $2,325

2.Record the entry on date of record

"No Journal Entry Required"

3.Record the payment of cash dividends

The Divine Apparel shall record the the following journal entry on October 31 in respect of dividend paid by it.

                                                                              Debit                         Credit

Dividend payable                                                 $2,325

Cash                                                                                                        $2,325

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Wilder Company manufactures two models of its banjo, the Basic and the Luxury. The Basic model requires 10,000 direct labor hour
OLEGan [10]

Answer:

The inspecting costs should be allocated to the Basic model using ABC costing is $30,600

Explanation:

The computation of the inspecting cost is shown below:

= Total number of basic model inspection + the total number of inspection

where,

Total number of basic model inspection equals to

= Number of units produced ÷ every units produced

= 3,400 units ÷ 100

= $34

And, the total number of inspection equals to

= Total inspection cost ÷ number of inspection

= $84,600 ÷ $94

= 900

The number of inspection includes

= total number of basic model inspection + the total number of luxury model inspection

= $34 + $60 (600 units ÷ 10)

Now put these values to the above formula  

So, the value would equal to

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7 0
3 years ago
Garnet Corporation is considering issuing risk-free debt, or risk-free preferred stock. The tax rate on interest income is 35%,
adell [148]

Answer:

Explanation:

a) investors wil receive 6% x ( 1-0.35)

= 3.9% risk free debt  after tax.

After  tax  return from risk free  preferred stock earnings must be equal.

to evaluate the cost of capital  fro preferred stock = 3.9%/(1-0.15)

                                                                                    = 4.59%

b) the after-tax debt cost of capital = 6% x (1- 0.40)

= 3.60%.

therefore, 3.60% is cheaper than the 4.59% preffered stoch cost per capital

c)  r* = 1 - [{(1 - 0.40)(1 - 0.15)} / (1 - 0.35)] = 1 - 0.7846 = 0.2154, or 21.54%

Hence, 4.59% x (1 - 0.2154) = 3.60%

4 0
3 years ago
In _______, population starts out slowly, then increases rapidly, and eventually flattens out at the carrying capacity.
Ilia_Sergeevich [38]
In logistic growth population starts out slowly, then increases rapidly, and eventually flattens out at the carrying capacity.
7 0
3 years ago
When harvesting a venture, the outright purchase of the going concern by managers, employees, or external buyers is known as goi
timama [110]

Answer:

In simple words, Harvesting seems to be the tool used by traders and investors to get out of business and, preferably, to recover the interest of their investments in the company. It's about more than trying to sell and having to leave a company. It includes collecting interest, risk reduction, and developing opportunities for the future.

Whenever a marketing plan includes a harvest tactic, investment firms and borrowers are convinced that the proprietors aim to establish the market and start selling it to either international shareholders or go to another corporation.

5 0
3 years ago
A company needs to locate three departments (X, Y, and Z) in the three areas (I, II, and III) of a new facility. They want to mi
kicyunya [14]

Based on the distance between locations, the total distance moved in the week will be<u> 6,700 meters. </u>

<h3>Distance between the departments </h3>

Assuming that Departments X, Y and Z are in areas I, II and III respectively. The following will be true:

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<h3>Total distance traveled</h3>

This can be found by multiplying the loads carried across departments by the distance between the locations of these departments.

= ( (Loads from X to Y x distance of X and Y) + (Loads from X to Z x Distance of X and Z)) + ( (Loads from Y to X x distance of X and Y) + (Loads from Y to Z x Distance of Y and Z)) + ( (Loads from Z to Y x distance of Z and X) + (Loads from Z to Y x Distance of Y and Z))

= ( (0 x 10) + 80 x 20)) + ( (30 x 10) + (150 x 10) ) + ( (100 x 20) + 130 x 10) )

= 1,600 + 1,800 + 3,300

= 6,700 meters

In conclusion, the total distance would be 6,700 meters.

Find out more on minimizing costs at brainly.com/question/1380316.

4 0
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