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DedPeter [7]
3 years ago
6

On January 1, Graves Corporation had 60,000 shares of no-par common stock issued and outstanding. The stock has a stated value o

f $4 per share. During the year, the following transactions occurred. Apr. 1 Issued 9,000 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of $1.5 per share to stockholders of record on June 30. July 10 Paid the $1.5 cash dividend. Dec. 1 Issued 4,000 additional shares of common stock for $12 per share. Dec. 15 Declared a cash dividend on outstanding shares of $1.6 per share to stockholders of record on December 31.
(a) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered
Business
1 answer:
Reptile [31]3 years ago
6 0

Answer:

April 1 The company issued 9,000 stocks at $11 per stock

  • Dr Cash account 99,000
  • Cr Common Stock account 99,000

June 15 Cash dividends are declared $1.50 per stock

  • Dr Retained Earnings account 103,500
  • Cr Dividends Payable account 103,500

July 10 The company paid the dividends

  • Dr Dividends Payable account 103.500
  • Cr Cash Account 103,500

December 1 The company issued 4,000 stocks at $12 per stock

  • Dr Cash account 48,000
  • Cr Common Stock account 48,000

December 31 Cash dividends are declared $1.60 per stock

  • Dr Retained Earnings account 116,800
  • Cr Dividends Payable account 116,800

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Refer to the HR Reports in the Inquirer. Through past investments in recruiting and training Chester has obtained a productivity
Reil [10]

Note:

I wasn't able to access the Chester Income Statement but I successfully accessed a similar question Digby.

The Complete Question is as under:

Refer to the HR Reports in the Inquirer. Through past investments in recruiting and training Digby has obtained a productivity index of 109.6%. This means that Digby's labor costs would be increased by 9.6% if it did not have these productivity improvements. This is a competitive advantage that Digby can sustain or even widen further if its competitors have no HR initiatives. Now, refer to the Income Statement in Digby's Annual Report. How much did Digby's productivity improvements save it in direct labor costs (in thousands) last year?

A. $766

B. $29818

C. $3137

D. $3211

Answer:

Option D. $3,137

Explanation:

The Productivity Index of 9.6% shows that if the improvement plan is implemented then the efficiency gains would result in saving of 9.6% of total direct cost. So if we total the direct cost for the year for all of the four products then we have an amount of $32,680 which is given at the second last column.

The amount saved last year would be:

Savings = $32,680 * 9.6% = $3,137

Hence the option C is correct here.

3 0
3 years ago
At which stage of new product planning does the management select the marketing campaign, identify regions to cover, and decide
denpristay [2]
The answer for your question is B
8 0
3 years ago
Read 2 more answers
sean, 17, a snowboarder, signs a long-term endorsement agreement for sportswear. he endorses the products and deposits his compe
Degger [83]

A settlement made with the aid of using a minor is frequently voidable, however a minor can most effective keep away from a settlement all through his or her minority popularity and for an inexpensive time after he reaches the age of majority.  After an inexpensive length of time, the settlement is deemed to be ratified and cannot be avoided.

  • Facts of the case: Sean, 17, a snowboarder, signs a long-term endorsement agreement for sportswear. At age 19, he wants to void the agreement by claiming that he lacked capacity when he signed the deal at 17.
  • Rule of Law: Minor's Contracts are voidable at the option of Minor.
  • Analysis: Since, Minor's Contract is voidable at the option of the Minor who Signs the Contact can either honor the contract or void the contract. A minor can void a contract for lack of capacity, only when he is still under the age of majority. If a minor turn 18 i.e., After attaining Majority and hasn't done anything to void the contract, then the contract can no longer be voided.
  • Here, Sean has not done anything to void the contract on attaining the age of 18. So, he at the age of 19, cannot void the agreement by claiming that he lacked capacity when he signed the agreement at 17.
  • Decision: Sean Vs. Sportswear Company: In the light of the above provisions, a Court will not permit Sean to now void the agreement.

Learn more about minority popularity here:

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8 0
1 year ago
If the potential employer is a candle-making company, _____ would be one of the employer’s raw materials.
Scilla [17]

Answer:

wax

Explanation:

Raw materials are the components or ingredients used to manufacture finished goods. They are the unprocessed materials that go through the production process or refining to give a consumable product.

Wax is the main raw material in the production of candles. A company involved in making candles need a source of wax to stay in business.

5 0
3 years ago
Classify each characteristic as relating to a fixed exchange rate regime or a flexible, or floating, exchange rate regime.a. sig
marshall27 [118]

Answer:

(A) Fixed exchange rate regime

(B) Fixed exchange rate

(C) Flexible exchange rate

(D) Flexible exchange rate

Explanation:

(A) A fixed exchange rate regime signals a commitment not to engage in inflationary policies. NOTE: Inflationary policies are a type of monetary policies (the type used to pump money into the economy). See answer (D).

(B) A fixed exchange rate regime provides certainty about the value of a currency, for example, when the exchange rate between Philippine Pesos and Arab Emirate Dollars is fixed at 10PHP - 1AED, traders in this currency will be certain that at any planning time in business, investment or consumption, 10 PHP will be equal to 1 AED.

(C) Flexible exchange rate distorts incentives for importing and exporting goods and services. What are these incentives? On the government side, it is either the revenue that government makes from import tariffs and duties OR the subsidy that government pays on exported goods. On the importer/exporter side, it is the custom duties paid by importers on imported goods AND the subsidies enjoyed by exporters on exported products. A flexible exchange rate distorts or fluctuates these incentives.

(D) Flexible exchange rate enables policy makers to engage in monetary policy. Now, monetary policy is a tool used by ministers of finance or policy makers in every country; to regulate (increase or reduce or bring back to normal) spending and investment. If the exchange rate between or among countries were fixed, monetary policies would have limited application or usefulness when implemented. A flexible exchange rate encourages and enables engagement in or use of monetary policies.

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3 years ago
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