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Paladinen [302]
3 years ago
8

Kate decides to issue cash dividends on both the common stock and the preferred stock. Currently there are 50 outstanding prefer

red shares and 500 common shares outstanding. The dividends that Kate paid were $6 per share on the preferred shares and $2 per share on the common shares. Provide the journal entry for the payment of the cash dividends.
Business
1 answer:
tangare [24]3 years ago
3 0

Answer:

Journal Entry for both type of shares is given below

Explanation:

DATA

Preference shares = 50

Common shares = 500

Dividend for preference shareholders = $6/share

Dividend for Common shareholders = $2/share

Entry                                                       DEBIT         CREDIT

Dividend (for preference shares)         $300

Dividend (for common shares)            $1000

Cash                                                                           $1,300

Working

Preference shares dividend = 50 x $6/share = $300

Common shares dividend = 500 x $2/share = $1000

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Ryngaert Inc. recently issued noncallable bonds that mature in 15 years. They have a par value of $1,000 and an annual coupon of
REY [17]

Answer:

The bonds sell for $825.63

Explanation:

To calculate the price of the bond, we need to first calculate the coupon payment per period. The bonds are annual bonds so the coupon payment is per year.

Coupon Payment = 1000 * 0.057  = $57

Total periods = 15

The formula to calculate the price of the bonds today is attached.

Bond Price = 57 * [( 1 - (1+0.077)^-15) / 0.077]  +  1000 / (1+0.077)^15

Bond Price = $825.63

3 0
3 years ago
Swifty Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (
Vlad1618 [11]

Answer:

$352,000

Explanation:

The computation is shown below:

Product         Net realizable value          Cost               LCNRV

A                    $129,000                         $126,000         $126,000

B                   $80,000                           $72,000           $72,000

C                  $154,000                          $155,000         $154,000

Total value of the inventory                                          $352,000

This is the answer but the same is not provided in the given options

3 0
3 years ago
Department a had 5,000 units in work in process that were 60% completed as to labor and overhead at the beginning of the period;
mezya [45]
The answer for Equivalent units for the period will be calculated as follows under FIFO
1. Units from beginning work in process:  calculate this as beginning work in process units x (100% – given % complete) to calculate the amount of additional work needed to make the unit 100% complete.2. Units in progress and completed this period:  take the units x 100% complete since they were started and completed they have received all of their materials, labor and overhead and will not receive any more since they are finished.3. Units in Ending work in process:  take the ending work in process units x a given % complete.

Solution by step:

Equivalent units = 1. (5,000 × 40%) +2. (31,000 – 5,000) (Since there is a beginning work in process deduct this from the units completed) +3. (2,000 × 80%)

= 2000 + 26000 + 1600
Answer = 29,600 units
5 0
4 years ago
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP
Vadim26 [7]

Answer:

a. Imports (M), b. Government Expenditure (G), c. Exports (X), d. Investment 'I'

Explanation:

a) 'Kevin buys a bottle of Italian wine' is a part of US Imports (M)

b)  'The state of Pennsylvania repaves highway PA 320' is a part of US Government Expenditure (G)

c) 'Maria's father in Sweden orders a bottle of Vermont maple syrup from the producer's website' is a part of US Exports (X)

d) 'Kevin's employer upgrades all of its computer systems using U.S.-made parts' is a part of US Investment 'I'

4 0
3 years ago
On september 12, vander company sold merchandise in the amount of $5,800 to jepson company, with credit terms of 2/10, n/30. the
kirill115 [55]
Dang I used to know this but I completely forgot I will try to answer if it comes back to me
7 0
3 years ago
Read 2 more answers
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