Chris, a manager, knows that one of his employees values achievement and power. Chris should assign the employee to a job that

Landers Flynn Inc. has 1,000 shares of $5 cumulative preferred stock outstanding. Dividends were not paid last year. The corpora

yanalaym [24]

Answer:

The preferred stockholders $10,000

Common stockholders $4,000

Explanation:

The cumulative effect of the preferred stock is that the holders are entitled to arrears of dividends, in other words, they would receive this year last year's dividends in addition to current year's.

annual preferred stock dividends=dividend per share*number of preferred stock.

annual preferred stock dividends=$5*1000=$5000

dividends for 2 years=$5000*2=$10,000

common stock dividends=$14,000-$10,000=$4000

8 0

4 years ago

Alpine Energy Corporation has 1,500,000 shares of $40 par common stock outstanding. On August 2, Alpine Energy declared a 4% sto

Flauer [41]

Answer:

The Journal entries are as follows:

(a) On August 2,

Stock Dividends A/c (1,500,000 × $70 × 4%) Dr. 4,200,000

To Stock dividend distributable (1,500,000 × $40 × 4%) 2,400,000

To Paid in Capital in excess of par- Common stock 1,800,000

(To record the stock dividend)

(b) On September 15,

No entry required

(c) On October 8,

Stock Dividend distributable A/c Dr. $2,400,000

To Common stock $2,400,000

(To record the stock dividend issued to stockholders)

6 0

3 years ago

A college graduate who is searching for his first job illustrates the concept of cyclical unemployment. frictional unemployment.

zvonat [6]

Answer: frictional unemployment

Explanation:

Frictional unemployment is also referred to as search unemployment. Frictional unemployment is the time that people spend between jobs when they are looking for a job or in cases whereby they are transferring from one job and looking for another job.

The turnover in the labor market is actually a reason for being frictionally unemployed. Also, when someone graduates from college, the person also begins to look for work. The person is frictionally unemployed during the time that he or she is looking for job.

7 0

4 years ago

A survey of 1000 executives ranked _____________ at the top, as the ideal manager's skill. a. listening b. conflict resolution c

kotegsom [21]

Answer:

The correct answer is letter "A": listening.

Explanation:

Ideal manager skills are a set of practices and preferred behaviors high-range executives are expected to have or develop for managerial purposes. Among those aptitudes good communication and organization are vital. That is why listening is very important since managers must listen to their bosses as well as to their subordinates and customers.

7 0

3 years ago

Lisa Frees and Amelia Ellinger had been operating a catering business for several years. In March 2014, the partners were planni

Marat540 [252]

Answer:

Explanation:

Account Name Debit Credit

Cash $160,000

Accounts Receivable $2,000

Equipment $ 18,300

Supplies $1,200

Contributed Capital $181,500

a. Received $80,000 cash from each of the two shareholders to form the corporation, in addition to $2,000 in accounts receivable, $5,300 in equipment, a van (equipment) appraised at a fair market value of $13,000 and $1,200 in supplies.

b. Purchased a vacant store for sale in a good location for $360,000, making a $72,000 cash down payment and signing a 10-year mortgage from a local bank for the rest

Account Name Debit Credit

Building $360,000

Cash $ 72,000

Notes Payable $288,000

c. Borrowed $50,000 from the local bank on a 10%, one year note.

Account Name Debit Credit

Cash $50,000

Notes Payable $50,000

d) Purchased and used food and paper supplies costing 10,830 in March; paid cash.

Purchase of Supplies:

Account Name Debit Credit

Supplies $10,830

Cash $10,830

Account Name Debit Credit

Supplies Expense $10,830

Supplies $10,830

e) Catered four parties in March for $4,200; $1,600 was billed and the rest was received in cash.

Account Name Debit Credit

Cash $2,600

Accounts Receivable $1,600

Catering Revenue $4,200

f. Made and sold food at the retail store for $11,900 cash. (assume the cost of these sales was already recorded as part of transaction d.)

Account Name Debit Credit

Cash $11,900

Food Sales Revenue $11,900

g. Received a telephone bill for March to be paid in April.

Account Name Debit Credit

Telephone Expense $420

Telephone Payable $420

h. Paid $363 in gas for the van in March

Account Name Debit Credit

Gas Expense $363

Cash $363

i. Paid $6,280 in wages to employees who worked in March.

Account Name Debit Credit

Wages Expense $6,280

Cash $6,280

j. Paid a $300 dividend from the corporation to EACH owner

Account Name Debit Credit

Retained Earnings $600

Cash $600

k. Purchased $50,000 of equipment (refrigerated display cases, cabinets, tables, and chairs) and renovated and decorated the new store for $20,000 (added to the cost of the building); paid cash.

Account Name Debit Credit

Equipment $50,000

Building $20,000

Cash $70,000

2)

a Cash flow from FINANCING ACTIVITIES

b Cash flow from INVESTING ACTIVITIES ($72,000) and Non-Cash Investing and Financing Activity ($288,000).

c Cash flow from FINANCING ACTIVITIES.

d Non-Cash OPERATING ACTIVITIES.

e Cash flow from OPERATING ACTIVITIES ($2,600); Non-Cash Operating Activity ($1,600).

f Cash flow from OPERATING ACTIVITIES

g Non-Cash OPERATING ACTIVITIES.

h Cash flow from OPERATING ACTIVITIES.

i Cash flow from OPERATING ACTIVITIES.

j Cash flow from FINANCING ACTIVITIES.

k Cash flow from INVESTING ACTIVITIES

5 0

3 years ago