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dexar [7]
3 years ago
8

Lindy Corporation has 1,000,000 authorized shares of $20 par value common stock. As of June 30, 2014, there were 600,000 shares

issued and outstanding. On June 30, 2014, the board of directors declared a $0.50 per share cash dividend to be paid on August 1, 2014. Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record, (c) the date of payment.
Business
1 answer:
sertanlavr [38]3 years ago
3 0

Explanation:

The journal entries are as follows

a. Retained earnings A/c Dr $300,000  (600,000 shares × $0.50)

             To Dividend payable A/c $300,000

(Being the dividend is declared)

b. No journal entry is required

c. Dividend payable A/c $300,000

              To Cash A/c $300,000

(Being the dividend is paid for cash is recorded)

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Use the graph to answer the question that follows. Graph has quantity along the horizontal axis and price along the vertical axi
Jlenok [28]

The statement that would describe the shift from D1 to D2 is Demand for the product increased.

<h3>Why was there a shift from D1 to D2?</h3>

D2 is a curve that is to the right of D1 which means that it represents a higher level of demand for goods and services.

This means that for the demand to move from D1 to D2, there must have been an increase in the demand for the good or service and this could have been for any number of reasons including a reduction in the price of complimentary goods.

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8 0
1 year ago
Ponzi Corporation has bonds on the market with 14.5 years to maturity, a YTM of 6.1 percent, and a current price of $1,038. The
Dmitriy789 [7]

Answer:

Coupon rate is 6.5%

Explanation:

Bond price is the sum of present value of coupon payment and face value of the bond. If the price is available the coupon payment can be calculated by following formula

Price of the Bond = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]

$1,038 = C x [ ( 1 - ( 1 + 6.1%/2 )^-14.5x2 ) / 6.1%/2 ] + [ $1,000 / ( 1 + 6.1%/2 )^14.5x2 ]

$1,038 = C x [ ( 1 - ( 1 + 0.0305 )^-29 ) / 0.0305 ] + [ $1,000 / ( 1 + 0.0305 )^29 ]

$1,038 = C x [ ( 1 - ( 1.0305 )^-29 ) / 0.0305 ] + [ $1,000 / ( 1..0305 )^29 ]

$1,038 = C x [ ( 1 - ( 1.0305 )^-29 ) / 0..0305 ] + [ $1,000 / ( 1.0305 )^29 ]

$1,038 = C x 19.068 + $418.42

$1,038 - $418.42 = C x 19.068

$619.58 = C x 19.068

C = $619.58 / 19.068

C = $32.49

Coupon rate = 32.49 / $1,000 = 3.25% semiannual

Coupon rate = 3.25% per semiannual x 2 = 6.5% per year

3 0
3 years ago
On August 1 of Year 1 Accounting Associates (AA) collected $1,200 cash for consulting services to be provided for one year begin
igor_vitrenko [27]

Answer:

c) Unearned Revenue $ 500, Revenue $ 500

Explanation:

When the cash was received on August 01, no accounting services were provided so the  entry would have been:

Cash Debit                                 $ 1,200

Unearned revenue Credit                          $  1,200

Unearned Revenue is a liability account

On December 31, a recognition needs to be made for the services revenue earned and hence the amount for 5 months amounting is debited to  unearned revenue and revenue credited with $ 500.  

6 0
3 years ago
Carol has worked for Centrum Springs, Inc., for many years and has now been given the opportunity to advance in the company. Her
Anna35 [415]

Answer:

To be a manager, Carol has to do some activities:

Controlling, organizing, planning and leading.

8 0
2 years ago
Which statement best describes the performance of mutual funds over the last 4 or 5 decades? A. While some mutual fund managers
madam [21]

The correct option is (d).

  • Choosing the best mutual funds by comparing performance of mutual funds against a benchmark index.
  • Money market funds, bond funds, stock funds, and target date funds are the four primary categories into which most mutual funds fit.
  • Each variety has unique characteristics, dangers, and benefits.
  • The rate of return is subtracted from the risk-free rate of return for the investment, and the result is divided by the return on investment's standard deviation.
  • The Sharpe ratio tells investors if an investment's results are the result of prudent investing decisions or an outcome with excessive risk.

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7 0
2 years ago
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