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Gre4nikov [31]
3 years ago
15

Eastline Corporation had 13,500 shares of $5 par value common stock outstanding when the board of directors declared a stock div

idend of 4,995 shares. At the time of the stock dividend, the market value per share was $19. The entry to record this dividend is:
Business
1 answer:
ohaa [14]3 years ago
3 0

Answer:

1-                   Retained Earnings                                $94905

                                    Common stock                                   $24975

                                   Additional paid in capital                    $69930

Explanation:

Usually stock dividend issued at the market prices. Hence, it will reduce retained earnings by the total amount of dividend. Later the amount of par value of stock recorded in common stock while amount above the par value become the part of Additional paid in capital over the common stock.

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3 years ago
Bjorn felt that the focus groups did not give him enough quantitative information to make a decision, so he directed his manager
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Answer:A

Explanation:

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4 0
3 years ago
Your analyst team has received a request for system development that focuses on moving the current system into a new operating e
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8 0
1 year ago
Flounder Company purchased a delivery truck for $33,000 on January 1, 2020. The truck has an expected salvage value of $2,000, a
Anna35 [415]

Answer:

Through straight line method

In year 2020 =3100

In year 2021 = 3100

Through double declining method

In year 2020=6600

In year 2021= 5280

Through activity based

in year 2020=4544

in year 2021=3366

Explanation:

Through straight line method

Formula is (Cost-salvage)/Useful years

So,

Cost of good is $33000

Salvage amount is $2000

Number of useful years 10

Putting the values

(33000-2000)/10

3100

As, this is straight line method, depreciation for the next year (2021) would also remain same. 3100

Through double declining method

Formula is 2* depreciation rate

so, 2* 1/10

double declining rate is 1/5

So, 33000*1/5= 6600

6600 for 2020

Next year (2021),

Now we would subtract the amount of 6600 (already depreciated) from the 33000.

So, 33000-6600= 26400

Applying the rate, 26400*1/5 = 5280

So, next year 5280

Through activity based

we depreciate the truck according to its usage

So, in first year it was used 13800 miles. Maximum it can be used for 100,000 miles

First year 13800/100000= 13.8% used

we depreciate then 33000*13.8%= 4554

So, in 2020 4554

Next year (2021)

It was driven 10200 which is 10200/100000= 10.2%*33000

So, 0.102*33000= 3366

In 2021, depreciation of machine according to the activity based system was 3366

4 0
2 years ago
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