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andreyandreev [35.5K]
2 years ago
15

On May 20, the board of directors for Auction declared a cash dividend of 50 cents per share payable to stockholders of record o

n June 14. The dividends are paid on July 14. The company has 502,000 shares of stock outstanding. Closing entries are recorded on July 31. Prepare any necessary journal entries for each date. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)A) May 20th, Record the entry on the date of declaration for a cash dividend of 50 cents per share payable on the 513,000 shares of stock outstanding.B) June 14th, Record the entry on the date of record for a cash dividend of 50 cents per share payable on the 513,000 shares of stock outstanding.C) July 14th, Record the entry on the date of payment for the cash dividend.D) July 31st, Record the entry to close the dividend account to retained earnings.
Business
1 answer:
Naddika [18.5K]2 years ago
7 0

Answer:

Explanation:

The journal entries are shown below:

We assume the shares outstanding is 513,000 shares

On May 20

Dividend A/c Dr  $256,500        (513,000 shares × $0.50)  

      To Dividend payable A/c  $256,500  

(Being cash dividend declared)  

On June 14

No entry

On July 14

Dividend payable A/c Dr  $256,500  

          To Cash A/c   $256,500  

(Being the payment of cash dividend is recorded)

On July 31

Retained earning A/c Dr   $256,500  

           To Dividend A/c           $256,500  

(Being cash dividend declared)  

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What is a review of successful products that takes place during the production​ process?
tresset_1 [31]

Answer:

Value analysis

Explanation:

The value analysis is the evaluation made by a company during the creation of a product to make sure that the specifications of it are adequate and that the cost is not higher than needed so that it can perform its functions properly at the right price. According to this, the answer is that the review of successful products that takes place during the production process is value analysis.

8 0
2 years ago
Oriole Company has the following budgeted sales: January $210000, February $260000, and March $220000. 40% of the sales are for
statuscvo [17]

Answer: The total expected cash receipts during March is $232000.

Explanation:

Given that,

Budgeted sales in January = $210000

Budgeted sales in February = $260000

Budgeted sales in March = $220000

40% of sales are for cash and rest 60% are on credit

Total cash receipts during march = cash sales in the month of march + Credit sales in the month of February + Credit sales in the month of march

= 40% of 220000 + 260000 × 60% × 50% + 220000 × 60% × 50%

= 88000+78000+66000

= $232000

Therefore, the total expected cash receipts during March is $232000.

6 0
3 years ago
The United Kingdom currently has a trade deficit with New Zealand. If the U.K. pound sterling appreciates relative to the New Ze
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The correct answer to the given question is that the trade deficit would increase since with the appreciating pound means <em>more goods will be imported</em> from New Zealand.

Based on the given question, we are asked to show the effects of the trade deficit between New Zealand and UK based on the appreciation of the pound sterling relative to the New Zealand dollar.

With this in mind, we are aware that when there is a strong domestic currency, then it would encourage more imports and hamper exports, therefore, the trade deficit will increase, since an appreciating pound means more goods will be imported from New Zealand.

Therefore, the correct answer is option D

Read more about trade deficit here:

brainly.com/question/24473707

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2 years ago
What is the difference between direct e-mailing and spam ?
Nataly_w [17]

Answer: You want direct email spam is what you dont want.

Explanation: Generally, consumers must sign up to receive direct e-mailings and the recipient of the e-mail to opt-out of future mailings. Spam is unsolicited, uninvited, and often it is impossible to opt-out of spam.

Brainlist plz!!!!

8 0
3 years ago
Read 2 more answers
The English economist David Ricardo argued that Group of answer choices None of the answers is correct grain prices were high be
Andrei [34K]

Answer:

land rents were high because grain prices were high..

Explanation:

grain prices were high because land rents were high.

land rents were high because grain prices were high.

grain prices were high because land rents were low.

land rents were high because grain prices were low.

none of the above

David Ricardo was a classical economist known for various economic theory. Some of his theories include :

  1. Labour Theory of Value
  2. Ricardian Equivalence
  3. Theory of comparative advantage
  4. Theory of rent

Theory of rents

David Ricardo defined rest as the part of the produce of an agricultural land that is paid to the landowner for the use of the land.  He postulated that  benefits of an increase in prices of grain accrue to land owners in the form of rent

He used this theory to answer a question that arose during the Napoleonic wars (18.05-1815)  when there was a great increase in corn and land prices. The question was : Did the rise in land prices raise the price of corn or did the high price of corn increase the demand for land and led to an increase in the price of land ?

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3 years ago
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