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Xelga [282]
3 years ago
5

Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2015, the company's board of di

rectors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20, 2016 to the stockholders of record on January 15, 2016. The market price of the company's stock is $10 per share on December 31, 2015. Complete the necessary journal entry to record the declaration of the stock dividend by selecting the account names and dollar amounts from the drop-down menus. If there are multiple debits or multiple credits, enter the account titles in alphabetical order.
Business
1 answer:
victus00 [196]3 years ago
8 0

Answer:

The necessary journal entry to record the declaration of the stock dividend is as followed:

31st December 2015

Dr Retained Earnings                                            200,000

Cr Common Stock Dividend Distributable          40,000

Cr Additional Paid-in capital - Common stock    160,000

( to record 20% stock dividend declaration)

Explanation:

As stock dividend is declared to be at 20%, this is a small stock dividend.

As at Dec 31st 2015, 100,00 shares is outstanding, the number of stock to be distributed under the form of dividend is: 100,000 x 20% = 20,000 stocks;

Thus:

Retain Earnings account will be decreased ( Debited) by the amount equal to Market price per stock at declaration x  the number of stock to be distributed = 10 x 20,000 = $200,000.

Common stock account will be increased ( Credited) by the amount equal to Par value per stock x the number of stock to be distributed = 2 x 20,000 = $40,000.

The differences between Debit Retained Earnings and Cr Common stock will go into Cr Additional Paid-in capital - Common stock $160,000 ( $200,00 - $40,000).

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Answer:

extensive communication mechanisms.

Explanation:

High-performance teams is a term often used in organizational settings to describes teams that often performed better than other teams and beyond expectation. They are associated with various characteristics amongst others which are:

1. Presence of extensive communication mechanisms

2. Constant collaboration among team members

3. Define objectives and goals

4. Ability to tackle and resolve conflict amicably with speed.

7 0
3 years ago
If there is no written designated agency relationship, a client of Meramac Realty has what kind of relationship with Meramac
LuckyWell [14K]

Answer: c. A nonagency relationship with everyone in the office.

Explanation:

For an agency relationship to exist in the eyes of the law, there must be a contract with a written designated agency relationship between the client and Meramac Realty.

With no such contract in existence, the law recognizes no agency relationship between Meramac and any of its affiliates with the client. There is therefore a non-agency relationship with everyone in Meramac.

5 0
2 years ago
What is marketing as a source of data​
masya89 [10]

Answer:

Primary data sources include information collected and processed directly by the researcher, such as observations, surveys, interviews, and focus groups. Secondary Data Collection. Secondary data sources include information retrieved through preexisting sources: research articles, Internet or library searches, etc. Exmaple of preexisting sources modern is something named 'remarketing'. What makes remarketing different from standard Display and Search advertising which is used in a targeting collation.

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3 years ago
Entrepreneurs work well under pressure because:
Darya [45]

Answer:

Letter d is correct. <u>They have a lot of energy.</u>

Explanation:

Entrepreneurs need to be high-energy people because they are naturally leaders in an organization and motivate employees.

The attitude that an entrepreneur adopts will usually be copied and transmitted in the organizational culture, but the ideal is that entrepreneurs prove to be high performance and energetic people, prepared to deal with the challenges and uncertainty that may occur in the organizational process, people who follow the line. the set of organizational ethics and policies.

The business posture is essential to cope with the daily pressures of running work systems.

5 0
2 years ago
Sylvestor Systems borrows $107,000 cash on May 15 by signing a 60-day, 6%, $107,000 note.
sladkih [1.3K]

Answer:

14th July

Explanation:

The computation of the maturing date of the note is calculated below:

The Sylvestor Systems borrows the amount of $107,000 on May 15 at a 6% interest rate and the mature days of the note are 60 days  

So, the maturity date would be

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Therefore, the note is matured on 14th July

We simply calculated the 60 days from May to July months

3 0
3 years ago
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