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
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)

You might be interested in
Suppose that an installment plan calls for five payments to be made. The total paid in this plan is 20% more than the price woul
ollegr [7]

Answer:

The answer is $48.

Explanation:

20% of $200 is 40. So the total amount they will pay is $240. Since there will be five payments you divide this by five. That makes %48.

4 0
3 years ago
OceanGate sells external hard drives for $260 each. Its total fixed costs are $30 million, and its variable costs per unit are $
Svetach [21]

Answer:

a. in order to calculate this we must assume that the economy entered a recession:

degree of operating leverage = [($20 - $70)/$70] / [($260 - $520)/$520] = -0.7143 / -0.5 = 1.43

b. $14 million

Explanation:

strong economy:

total sales $520 million

<u>variable costs $420 million</u>

gross profit $100 million

<u>fixed costs $30 million</u>

EBIT $70 million

<u>income taxes $21 million</u>

net income $49 million

weak economy:

total sales $260 million

<u>variable costs $210 million</u>

gross profit $50 million

<u>fixed costs $30 million</u>

EBIT $20 million

<u>income taxes $6 million</u>

net income $14 million

7 0
3 years ago
Anyone know the answer to this?
Ipatiy [6.2K]

Answer:

rework hope this helps :)

Explanation:

5 0
3 years ago
Given the annual rate of economic growth, the "rule of 70" allows one toA) determine the accompanying rate of inflation.B) calcu
erik [133]

Answer:

B) calculate the number of years required for real GDP to double

Explanation:

The rule of 70 calculates the amount of time it takes for an investment to double.

Given the annual rate of economic growth, the rule of 70 calculates the number of years required for real GDP to double.

It is calculated as 70 / annual rate of economic growth.

I hope my answer helps you.

7 0
3 years ago
At what stage of growth is a business profitable, with enough money to reinvest into the company? A. Successful B. Start-up C. M
Trava [24]
D. Stability, is right.
6 0
3 years ago
Read 2 more answers
Other questions:
  • Which of the following sentences is most appropriate for written communication at work or with a customer?
    9·1 answer
  • How does a project manager evaluate the scope of a project?
    11·2 answers
  • A milestone occurring in which of these increments of time will be the farthest to the right on a timeline
    10·2 answers
  • Background material, fact sheets, news releases, and sample photos are commonly found in what important business communication p
    9·1 answer
  • How does panera bread attract customers? why do customers not mind paying more for panera bread's food?
    14·2 answers
  • Suppose that without specialization, Iran produces 4 barrels of oil and 6 bottles of olive oil, and Iraq produces 4 barrels of o
    9·1 answer
  • The “Beijing Consensus” approach to economic development, a model based on China’s rapid economic growth, implies a. experimenti
    8·1 answer
  • Bob's electronics company has quite a buzz around a new television they're launching, called UltraView1000. This television is e
    10·1 answer
  • Before beginning to prepare for her upcoming presentation, Kay contacts the venue to determine what technology will be available
    11·1 answer
  • Labor rates have risen over time to the point that Antonio's Pasta is considering _____ to reduce costs.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!