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andreev551 [17]
3 years ago
7

Journalize the following transactions into the general journal in accordance with the rules of Journalizing, and the Double-entr

y accounting system.
May24Coleman Company pays dividends of $1,500.
October11Coleman Company pays $1,000 for monthly advertising expenses.
Business
1 answer:
Ludmilka [50]3 years ago
8 0

Answer:

May 24

Dr Retained earnings $1,500

Cr Cash $1,500

Being cash dividend paid to shareholders.

October 11

Dr Advertising Expense $1,000

Cr Cash $1,000

Being cash payment for monthly advertising expenses.

Explanation:

Rules:

Debit side:

Increase in asset

Increase in expense

Decrease in liability

Decrease in equity

Decrease in income or sales

Credit side:

Decrease in asset

Decrease in expense

Increase in liability

Increase in equity

Increase in income or sales

May 24

Dr Retained earnings $1,500

Cr Cash $1,500

Being cash dividend paid to shareholders.

October 11

Dr Advertising Expense $1,000

Cr Cash $1,000

Being cash payment for monthly advertising expenses.

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Answer:

Parietal, temporal

Explanation:

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3 years ago
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An agent wants to sell a highly valuable unregistered, nonexempt security to a customer. The agent has the client sign a waiver
xxTIMURxx [149]

Answer:

D) illegal because provisions of the Uniform Securities Act cannot be waived

Explanation:

According to the Uniform Securities Act, it refers to that act in which there is a uniform law or the same law that is to be followed state to state

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3 years ago
A company's board of directors votes to declare a cash dividend of $.75 per share of common stock. The company has 15,000 shares
Norma-Jean [14]

Answer:

The total amount of the cash dividend is $7,125

Explanation:

The Dividend is declared to pay all the outstanding shares in the market. Sometime the company has some treasury shares in the stocks which is deducted from the total issued shares to find the outstanding shares. In this case, the issued shares and the outstanding numbers of shares are different.

Treasury shares are those shares that are bought back by the company that issued the shares.

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Cash Dividend = 9,500 x $0.75 per share

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