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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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The manufacturing operations of a company had the following balances for the year: Beginning Balance Ending Balance Raw material
Mekhanik [1.2K]

Answer:

The Adjusted Cost of Goods Sold for the year is $926,000

Explanation:

The formula to compute COGS is:

Ending inventory = Opening inventory + Work in progress - Unadjusted COGS (Cost of Goods Sold)

$ 23,000 = $28,000 + 918,000 - COGS

COGS = $946,000 - $23,000

           = $ 923,000

The formula to compute the Adjusted Cost of Goods Sold is:

Adjusted Cost of Goods Sold = Unadjusted Cost of Goods Sold + Under- applied overhead

= $923,000 + $3,000

= $926,000

3 0
3 years ago
The concept of venue reflects the policy that: _____________
dsp73

Answer:

D. A lawsuit should be tried in the geographic neighborhood in which the incident leading to the lawsuit occurred.

Explanation:

The united States concept of venue has it that a court hearing has to be done or decided in a court that is in the geographical area of where the crime was committed or where the dispute took place. Also it has that those who are to serve as members of the jury mist be from the same geographical area where it occured

7 0
3 years ago
Alex managers a team of several professional. He is cognizant that he needs to be aware of how stress might present in his workf
mafiozo [28]

Answer:

The correct answer is E.

Explanation:

The correct option is E.

Alex should be wary of employees that experience headaches, back discomfort, and migraines or even depressed people.

Stress makes us respond to pressure be it physical or emotional one. Stress at home or workplace can increase ones blood pressure.

So potential employees or current ones that have headache, migraine or back discomfort are susceptible to stress.

7 0
3 years ago
Ford had no presence in India before 2005, but it used the __________________ approach to open its own first manufacturing unit
Daniel [21]

Answer:

Letter A is correct. <u><em>Direct investment.</em></u>

Explanation:

Direct Investment or Foreign Direct Investment is defined as international investment for the purposes of creation and operations in another country. This type of investment may establish a majority or minority interest in companies that give the investor control over the operations and activities of that company.

In the case of the matter, it involves the Ford company whose direct investment was made in India to open its own business operations in India.

It is a type of complex investment, often used by companies wishing to establish a commercial presence in foreign countries, so it involves not only capital and interest, but management systems and technology.

3 0
3 years ago
A perfectly competitive market has? a. only one seller. b. at least a few sellers. c. many buyers and sellers. d. firms that set
Ghella [55]

A perfectly competitive market has many buyers and sellers (option c).

<h3>What is a perfectly competitive market ?</h3>

A perfectly competitive market is a market where there are many buyers and sellers of identical goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry. These makes buyers and sellers price takers.

An example of a perfectly competitive market is the market for tomatoes.

To learn more about perfect competition, please check: brainly.com/question/17110476

#SPJ1

3 0
2 years ago
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