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
eimsori [14]
4 years ago
7

Diamond’s Corporation has an investment in 5,000 shares of Sigmond Company common stock with a cost of $218,000. These shares ar

e used in a property dividend to stockholders of Diamond’s. The property dividend is declared on May 25 and scheduled to be distributed on July 31 to stockholders of record on June 15. The market value per share of Sigmond stock is $63 on May 25, $66 on June 15, and $68 on July 31. The net effect of this property dividend on retained earnings is a reduction of _______.a. $340,000.
b.$330,000.
c.$315,000.
d.$218,000.
Business
1 answer:
ioda4 years ago
6 0

Answer:

d.$218,000.

Explanation:

5,000 shares x $68 each = 340,000

cost of the shares              <u>  (218,000)  </u>

net gain                                 122,000

the company recognize this gain and then it distribute the shares:

sigmond invesmtent 122,000 debit

        RE                                122,000 credit

RE          340,000 debit

   sigmond investment 340,000 credit

reduction for retained earnings:

+122,000 gain

<u>-340,000 shares</u>

218,000

You might be interested in
What step is most important for sellers to focus on.
Gemiola [76]

The step that is most important for sellers is to focus on Identifying customers with lifetime value.

<h3>Who is a seller?</h3>

A seller can be regarded as the part of distribution channel that made the goods from producer to be available to consumers.

However, he must focus on Identifying customers with lifetime value.

Therefore, option C is correct.

CHECK THE COMPLETE QUESTIONS

What step is most important for sellers to focus on?

A: Keeping all customers at all cost

B: Keeping loyal customers and forgetting about the others

C: Identifying customers with lifetime value to the seller

D: Working to attract new customers regardless of the costs

Learn more about seller at:

brainly.com/question/12851463

3 0
2 years ago
What do most companies do when they look to provide an offering to global markets?
svetoff [14.1K]
I’m confident it’s 4 because a press conference can help marketing teams gather information on how to best globally sell a product/service. I’d be the best move for a product in this situation.
4 0
3 years ago
A doctor who charges his patient for a more expensive procedure than the one performed and then justifies it by saying "i didn't
Ray Of Light [21]
That is an example of overtreatment.
Overtreatment is the term that is used to describe medical professionals who give unecessary health care in order to obtan higher profit compared to the necessary treatment. According to surveys, around 40% of doctors conducted this practice every year.
3 0
3 years ago
A deductible requires a person with an insurance policy to:
luda_lava [24]

Answer: Pay the X amount of a service or prescription that is not covered by insurance.

Explanation:

4 0
2 years ago
Consider a mutual fund with $300 million in assets at the start of the year and 10 million shares outstanding. The fund invests
djyliett [7]

Answer: Start = $300 million

End = $318.59 million

Explanation:

NAV can be calculated by dividing the funds Assets net of Liabilities by the total number of outstanding shares.

At start of the year NAV is $300 million and NAV per share is therefore,

= 300 million/ 10 million

= $30 per share.

Ending NAV

During the year the fund made Investments and increased by a price of 7%

= 300 million (1 + 0.07)

= $321 million

We still have to subtract the 12b-1 fees that the fund charges though and that would result in,

= 321 million * (1 - 0.0075)

= 318.5925

= $318.59 million.

Dividing this by the total number of outstanding shares we have,

= 318.59 /10

= $31.86

$31.86 is the NAV per share at year end.

5 0
3 years ago
Other questions:
  • (will mark brainlyst)
    5·1 answer
  • Good buys has current assets of $2,500,000 and current liabilities of $1,000,000. if they issue $50,000 of new stock, what will
    8·1 answer
  • The​ _________ of forecasting is a process of gaining consensus from a group of experts
    5·1 answer
  • Which of the following U.S. organizations conducts an ongoing National Compensation Survey measuring wages, salaries, and benefi
    5·1 answer
  • Lara Technologies is considering a total cash outlay of $250,000 for the purchase of land, which it could lease out for $35,000
    14·1 answer
  • he following is a partially completed lower section of a departmental expense allocation spreadsheet for Brickland. It reports t
    7·1 answer
  • The Owen’s Company budgeted sales of 45,000 printers at $95 per unit last year. Variable manufacturing costs were budgeted at $4
    12·1 answer
  • A principal purpose of the Securities Exchange Act of 1934 is generally considered to be:
    13·2 answers
  • Johnny Come Lately Computers (JCMC) has 20,000 bonds outstanding, selling at 98 percent of par; 300,000 shares of stock outstand
    5·1 answer
  • If you are hired by an organization, you would be least hurt by inflation if Group of answer choices Your employer has a cost-of
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!