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jenyasd209 [6]
3 years ago
15

Concord Corporation has 8,800 shares of common stock outstanding. It declares a $3 per share cash dividend on November 1 to stoc

kholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend
Business
1 answer:
sasho [114]3 years ago
6 0

Answer:

Declaration date:

Dr retained earnings $26400

Cr dividends payable          $26400

Payment date:

Dr dividends payable $26400

Cr Cash                                                  $26400

Explanation:

Total dividend declared is the number of shares multiplied by cash dividend per share

total dividend=$3*8,800=$26400

On the record date no entries are required since record date, is just about verifying the bonafide shareholders.

On declaration date,dividends payable would be credited with $26,400 while retained earnings is debited.

On payment date,dividends payable is debited and cash credited

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Robert started his company in his mother's garage so he did not have to pay rent or lease at the initial stage of his business. This gave him the opportunity to put his finances in essential aspects of his business.

Therefore he had an opportunity to reduce his overhead cost.

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You have data for compensation of employees, proprietors' income, rental income, and net interest. Can you compute national inco
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Cant calculate

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Industry-wide differentiation strategy

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Addison Corporation is considering the purchase of equipment that would increase sales revenues by $250,000 per year and cash op
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a) 17.5%

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