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a_sh-v [17]
3 years ago
6

Ayayai Corporation has outstanding 400,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend

when the fair value of the stock is $63 per share. Prepare the journal entries for both the date of declaration and the date of distribution. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Business
1 answer:
maxonik [38]3 years ago
8 0

Answer:

Explanation:

The journal entries are shown below:

On Declaration date

Retained Earnings A/c Dr $4,000,000         (400,000 shares × $10)

        To Common Stock Dividend Distributable A/c $4,000,000        

(Being dividend is declared)

On distribution date:

Common Stock Dividend Distributable A/c Dr $4,000,000    

           To Common Stock A/c $4,000,000    

(Being the dividend is distributed)

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A registered representative solicits a new customer to purchase a "penny stock." Prior to effecting the transaction, which proce
marta [7]

Answer: StatusB B. Have the customer sign a statement that he understands the risks involved prior to executing the order

Explanation:

The options to the question are:

StatusA A. Send a prospectus to the customer

StatusB B. Have the customer sign a statement that he understands the risks involved prior to executing the order

StatusC C. Have the branch manager approve the order and then fill the customer's order in the same manner as with any other security

StatusD D. Send the customer a Subscription Agreement to be signed before filling the order.

The correct answer is StatusB B. Have the customer sign a statement that he understands the risks involved prior to executing the order.

Under the penny stock rule of the Securities exchange commission, when a new customer is being solicited by a registered representative to purchase an over-the-counter stock non-NASDAQ, a detailed statement must be completed by the registered representative on behalf of the customer.

7 0
3 years ago
Firestop Inspectors are encouraged to look for empty containers to confirm that a. The appropriate materials are being used b. T
MA_775_DIABLO [31]

Answer:

D both A and b

Explanation:

For the fire inspectors, not only are they expected to confirm that appropriate materials are being used but also, to ensure that the quality are top notch. This is to prevent outbreak of fire. For example, in a place where metal bin with lid are to be used, if plastic bin is being used, there is high chances of fire outbreak occurring when a used cigarette stick is thrown into it.

6 0
3 years ago
According to the situational leadership theory, if employees are unwilling and unable, the appropriate leadership style in this
Yuri [45]

Answer:

directive

Explanation:

Directive leadership is a form of leadership, often employed by managers or supervisors in mostly a situation whereby the task to be carried out or done is intricate or difficult and the employees assigned to it, are unwilling and unable. This style of leadership is considered the most appropriate or effective according to situational leadership theory.

Hence, the correct answer in this situation is DIRECTIVE.

8 0
3 years ago
According to the definitions of national saving and private saving, if Y, C, and G remained the same, an increase in taxes would
Viefleur [7K]

Question options :

a. raise both private and public saving.b. raise private saving and lower public saving.c. lower private saving and raise public saving.d. lower private and public saving.

Answer:

c. lower private saving and raise public saving.

Explanation:

National saving is total of private and public saving minus the country's consumption and government expenditure.

Private saving is income from households minus consumption and taxes.

Formula for public saving is T − G − TR which is government budget surplus through revenue from tax. This is revenue from tax minus government expenditure and transfers.

3 0
3 years ago
Samsonite has declared a 90% stock dividend. At the time of the declaration, Samsonite's stock was selling for $250 per share. I
NeTakaya

Answer:

$131.58

Explanation:

The computation of the new stock price is shown below:

= Selling price of stock per share ÷ current number of shares

= $250 ÷ 1.90

= $131.58

Since the 90% dividend is declared. It means for each share 90% dividend is declared so after stock dividend, the number of shares would be

= 1 + 90%

= 1 + 0.9

= 1.9

We simply divide the selling price by the current number of shares

4 0
3 years ago
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