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kirza4 [7]
3 years ago
11

The common stock of Alexander Hamilton Inc. is currently selling at $120 per share. The directors wish to reduce the share price

and increase share volume prior to a new issue. The per share par value is $10; book value is $70 per share. 9 million shares are issued and outstanding. Instructions Prepare the necessary journal entries assuming the following. The board votes a 2-for-l stock split. The board votes a 100% stock dividend. Briefly discuss the accounting and securities market differences between these two methods of increasing the number of shares outstanding.

Business
1 answer:
Pachacha [2.7K]3 years ago
5 0

Answer:

No Entry is required for a stock split

Retained Earnings 90,000,000

Common Stock Dividend Distributable 90,000,000

(to record the declaration)

Common Stock Dividend Distributable 90,000,000

Common Stock 90,000,000

(to record the distribution)

Explanation:

see the attached file

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"Boeing Company was scheduled to deliver several of its 747-400 jumbo jetliners to Northwest Airlines by December 31, 1988. Nort
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Answer: NO, Northwest

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Explanation:

What is a CREDIT TAX, this are grants given by government which is therefore used in replacing OLD APPLIANCES, and help tax payer reduce their total cost of housing unit.

As a result when due and over a year or more of request, it would be termed as unrecoverable.

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Boeing company airplanes and jetliners can fly 416 passenger within the range of 13,450kilometer, (8,360) miles.

The NORTHWEST AIRLINES, are in business with Boeing company and made several orders.

Due to the high expectance of getting a credit tax, on the investment they made on the JUMBO JETLINERS, from the boeing company, they put up a deadline, with an investment of $16 million

Now, due to TAX BREAK given to airlines and credits tax, the northwest wanted to use this medium to offset their cost and mitigate their future revenue and profit.

Since, the Boeing company failed in meeting up with the deadline made by the Northwest airlines which was to be as at DEC, 31st 1988.

Northwest airlines lost the credit tax they were to receive, on the planes they were expecting, and therefore decided to recover those lost credit tax from the Boeing company.

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Option D is an asset

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