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nataly862011 [7]
3 years ago
5

On January 1, Whispering Winds Corp. had 62,600 shares of no-par common stock issued and outstanding. The stock has a stated val

ue of $4 per share. During the year, the following transactions occurred.
Apr. 1 Issued 16,650 additional shares of common stock for $13 per share.
June 15 Declared a cash dividend of $1.55 per share to stockholders of record on June 30.
July 10 Paid the $1.55 cash dividend.
Dec. 1 Issued 7,400 additional shares of common stock for $11 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $1.65 per share to stockholders of record on December 31.

Required:

Prepare the entries, if any, on each of the three dates that involved dividends.
Business
1 answer:
Elenna [48]3 years ago
6 0

Answer:

Explanation:

The journal entries are shown below:

1. Cash Dividend A/c Dr $122,838                       (62,600 + 16,650) × $1.55

        To Dividend payable A/c  $122,838

(Being the dividend is declared)

2. Dividend payable A/c $122,838

       To Cash A/c $122,838

(Being the dividend is paid)

3.  Cash Dividend A/c  Dr $142,97    (62,600 + 16,650 + 7,400) × $1.65

              To Dividend payable A/c $142,973

(Bring dividend is recorded)

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Hatshy [7]

Answer:

The operating income for the​ year is $97,000

Explanation:

For computing the operating income, first, we have to calculate the cost of goods sold. The formula to compute the cost of good sold is shown below:

= Beginning merchandise inventory + Purchases during the year - Ending merchandise inventory

= $33,200 + $92,000 - $35,000

= $90,200

Now, the operating income would be

= Sales - the cost of good sold - selling and administrative expenses

= $262,900 - $90,200 - $75,700

= $97,000

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You're an entrepreneur and had a great idea to sell shoes that have springs installed in them to make walking easier. However, t
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Answer:

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Explanation:

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3 years ago
Were did west African slave traders get their slaves to sell to Europeans ​
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Answer:

I don't know but where can i buy

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3 0
3 years ago
Blossom Company purchased equipment for $303,200 on October 1, 2020. It is estimated that the equipment will have a useful life
givi [52]

Answer:

Answer A  =  $9,000  

Answer B  =  $6,400  

Answer C   =  $7,632  

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Explanation:

[ find attachments for complete solutions]

Note: Complete question is attached to the attachment section

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3 years ago
Suppose Brian is in the market for a used textbook and the campus bookstore is having a sale. If the initial price of the used b
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Answer:Percentage change  in the book price =7.17%

Explanation:

Initial Price of the  used  book = $73.25

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