1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
stepladder [879]
3 years ago
6

When previously declared cash dividends on common stock are paid which account would the corporation debit?

Business
1 answer:
garri49 [273]3 years ago
4 0

Answer:

C.

Explanation:

Financial Statements depicts the financial position of a firm at a particular point of time or specified date. The users of financial statements use various types of analysis to understand or compare the current financial statements of the company to prior years or with those of the competitors.

The journal entry on declaration of dividend would lead to a debit to retained earnings and credit to dividends payable.

No journal entry is passed on the date of recording dividend.

Later, on the date of payment of dividend would lead to a debit to dividends payable and credit to cash account.

The journal entries have been shown below:

You might be interested in
Suppose the total number of minutes provided is less than the total number of minutes estimated, but the total dollar cost of th
Pani-rosa [81]

Answer:

<u>A</u>

<u>Explanation</u>:

In this scenario note that it resulted to total dollar cost of the minutes provided been greater than the budgeted cost of estimated minutes.

Key word there is that the cost incurred is now above the budget, <u>therefore it is very likely that the technicians were being less competent than anticipated at their level, leading to greater cost.</u>

8 0
3 years ago
In the Excel, or spreadsheet, approach to recording financial transactions, if manufacturing overhead is underapplied by X dolla
Tatiana [17]

Answer:

False.

Explanation:

To close the underapplied Manufacturing Overhead account requires that the Cost of Goods Sold is debited, say with $100 while the Manufacturing Overhead account is credited with the same amount.  Underapplied Manufacturing Overhead account means that a debit balance is left after applying the overhead to production.  To close this debit, therefore, a credit entry is required to the manufacturing overhead account.  The corresponding debit entry goes to the Cost of Goods Sold, or this may be apportioned among Cost of Goods Sold, Finished Goods Inventory, and Work-in-Process, as may be the case.

5 0
3 years ago
Match the command(s) to the task it helps to complete.
monitta

#Remove text

  • Usually backspace but delete also

B

#paste text

  • Ctrl+V

#Create a line break

  • Enter

#create space for new paragraph

  • Shift+Enter

3 0
2 years ago
Preferred dividends Acura Labs Inc. has an outstanding issue of preferred stock with a par value of ​$30 and an 8​% annual divid
Marina CMI [18]

Answer:

a) 2.40 dollars

b) 0.60 dollars

c) 2.40 dollars

Explanation:

$30 dollars x 8% = $2.40

quarterly dividend:_ $2.40 / 4 = $ 0.60

When the dividends ar cummulative, they will keep at arrear until the company declares cash dividend. The firm will not be able to pay common stock unless there are no arrear dividends to preferred stock.

Only once all the preferred dividends in arrear and current period dividends are paid, the ocvmany can distribute among their common stock.

7 0
3 years ago
Scott and his partner, Greg, have decided to update their computer network, although they have no expertise in this area. During
jarptica [38.1K]

Answer:

The correct answer is rational decision making.

Explanation:

The question about rationality is that all human beings are different, with different tastes, variety of opportunities and what is rational or useful for one person may be totally different from what would satisfy another. In addition to everyday situations, people often make quick and unconscious decisions that are part of their daily experiences and are chosen by inertia, which can often leave rationality aside to become repetitive or everyday choices, another really important aspect Within the issue of decision making is the change of thoughts, tastes or perspectives of people over time and according to their experiences or areas in which they are, in short, what for a person can be rational in this At the moment, it won't be in the future.

The above gives us a perspective of decision-making in many fields where it can be observed that the most important thing is the search for self-benefit and where opportunity costs are weighed in order to see what is most useful within the opportunities They are available. The most interesting of all is to understand that we live with economic science on a daily basis and that without a doubt it is immersed in us when making decisions; It is also called "The hidden logic of life."

4 0
3 years ago
Other questions:
  • The argument for import protection in developing countries to bring about industrialization differs from the infant-industry arg
    8·1 answer
  • Gavina places products in several of the marketing channel categories. two examples of this are placement in​ mcdonald's in​ a(n
    6·1 answer
  • Which fire team member is responsible for covering dead space?
    7·1 answer
  • Choose the answer below that is consistent with the following data: Assume that velocity is 5, the quantity of output is 1,000 i
    12·1 answer
  • "When a parent uses the partial equity method throughout the year to account for its investment in an acquired subsidiary, which
    13·1 answer
  • At the end of the period, the balance left in the factory overhead account is equal to the
    12·1 answer
  • Banks pay interest to encourage people to open each of the following types of accounts EXCEPT:A. credit cardB. regular savingsC.
    10·2 answers
  • Suppose that a business incurred implicit costs of $500,000 and explicit costs of $5 million in a specific year. If the firm sol
    6·1 answer
  • Given the following:A firms projected free cash flows of2021 $20 million2022 $30 million2023 $50 millionAfter 2023, the growth r
    9·1 answer
  • Suppose your school is considering whether to spend $20 million building a new state- of-the-art recreation facility. All of the
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!