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Anastasy [175]
3 years ago
9

A corporation is authorized to sell 1,000,000 shares of common stock. Today there are 500,000 shares outstanding, and the board

of directors declares a 7% stock dividend. How many shares will be issued as a stock dividend?
Business
1 answer:
Juliette [100K]3 years ago
4 0

Answer:

35,000 stocks

Explanation:

Dividends can be either distributed in cash or distributed as new stock. In this case the company decided to issue stock instead of cash payments. Since the company has 500,000 outstanding and the board declared a 7% dividend, then 35,000 stocks should be issued (= 500,000 x 7%).

Whether shareholders receive money or stocks, they still have to include the dividends as part of their gross income.

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Mary's Baskets Company expects to manufacture and sell 24 comma 000 baskets in 2019 for $ 7 each. There are 2 comma 000 baskets
denis23 [38]

Answer:

The budgeted sales revenue is : $168,000

Explanation:

In 2019, as Mary's Basket Company has the opening Inventory balance of 2,000 baskets; projects to manufactures 24,000 baskets, plans to maintain ending inventory at $2,000 baskets without any work-in-process inventory; We have the baskets available for sales in the year of 2019 is:

  Actual Ending Balance of 2018 + Projected manufactured baskets during the year 2019 - Planned ending Balance of the year 2019 = 2,000 + 24,000 - 2,000 = 24,000

The unit price is projected at $7.

Thus, we have the projected sales revenue is:

  Projected Unit price x Projected baskets available for sales = 7 x 24,000 = $168,000

7 0
3 years ago
A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's una
kompoz [17]

Answer:

Accounts receivable $361,000 debit

Allowance for uncollectible accounts $560 debit

Net Sales $806,000 credit

0.4% of credit sales are uncollectible = 0.4% x $806,000 = $3,224

adjusting entry:

December 31, 202x

Dr Bad debt expense 3,224

    Cr Allowance for doubtful accounts 3,224

Allowance for doubtful accounts is a contra asset account that reduces accounts receivable.

8 0
3 years ago
I WILL GIVE BRAINLIEST
Zielflug [23.3K]

Answer:

true...........................

6 0
3 years ago
Read 2 more answers
The body of rules and procedures that guide the measurement and communication of financial accounting information is known as?
iris [78.8K]

Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.

Given that there is a body of rules and procedures that guide the measurement and communication of financial accounting information.

We are required to give the name of the body that guide the measurement and communication of financial accounting information.

The body that guide the measurement and communication of financial accounting information is Generally Accepted Accounting Principles.

Generally accepted accounting principles (GAAP) basically refer to a common set of accounting rules, standards, and procedures issued by the Financial Accounting Standards Board . Public companies in the U.S. have to follow GAAP when their accountants compile their financial statements.

Hence Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.

Learn more GAAP at brainly.com/question/17895474

#SPJ4

3 0
2 years ago
Why do older kids think they know every thing?
fomenos

Answer:

I have no clue tbh lol they think they are the boss of us

8 0
3 years ago
Read 2 more answers
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