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
zzz [600]
3 years ago
11

Mapleleaf Industries declared a $0.85 per share cash dividend. The company has 130,000 shares authorized, 51,000 shares issued,

and 48,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration
Business
2 answers:
PSYCHO15rus [73]3 years ago
8 0

Answer:

Debit Dividends and credit Dividends Payable for $40,800 was recorded in the journal entry as dividend declaration

Explanation:

Dividends are distribution (share or proportion) of profits paid to shareholders of a company from a company earnings. Dividends are not represented in the companies income statement. Dividends are only paid to outstanding shares.

Dividends = outstanding shares × cash dividend

Dividends = $0.85 per share cash dividend × 48,000 shares of common stock outstanding. = $40800

Therefore a Debit Dividends and credit Dividends Payable for $40,800 was recorded in the journal entry as dividend declaration

patriot [66]3 years ago
3 0

Answer:

Mapleleaf Industries

Journal Entry

Debit Cash Dividend $40,800

Credit Dividends Payable $40,800

To record the declaration of $0.85 per share cash dividend.

Explanation:

This journal entry shows the two accounts involved and how they are recorded when a cash dividend is declared (declaration date).

Calculation of cash dividends is based on 48,000 shares of common stock outstanding and not on the issued shares nor the authorized.  Usually, dividends are only payable to shareholders of record, who appear on the register of the company as holders of the shares on the specified date (date of records).

So, the divided equals $40,800 (48,000 x $0.85).

You might be interested in
Lowering the interest rate will:A. decrease spending on new homes. B. decrease spending on consumer durables. C. decrease the va
ahrayia [7]

Answer:

D: increase investment projects by firms

Explanation:

When interest rates are lowered, it is a green signal for small and medium size enterprises to borrow money for their investment projects.

3 0
3 years ago
A ________ involves killing at least four victims at one location during one event.
Gnom [1K]
The answer to this question is Mass murder
One more aspects that needed to be filled to be considered as a mass murder is the intention. It could be considered a mass murder if the killing is purely intentional.
If the killing of four victims happen because of an accident (such as drivig a vehicle toward another and caused the deaths), then the event still not considered as a mass murder.
8 0
3 years ago
Trade adjustment assistance promotes political support for free-trade agreements by:
Rus_ich [418]

Answer:

option C is the right answer

Explanation:

trade adjustment assistance programme was created to reduce the burden or damaging impart of import felt by some sector of the economy of a nation. and it creates an incentive to reduce trade barriers and export subsidies

4 0
3 years ago
What is a competitive​ market? A. a market in which a good can be bought and sold at the same price B. a market in which a good
Wittaler [7]

Answer:

The correct answer is letter "A": a market in which a good can be bought and sold at the same price.

Explanation:

Competitive markets are those with large numbers of producers fighting against each other to fulfill consumers' needs. In these markets, the producers and consumers cannot determine the price of the goods or services being traded. Both <em>participants are price-takers</em> which imply they will come to a point in which the price level offered by producers and desired by consumers will be equal.

5 0
3 years ago
Land's End allows customers buying shirts to choose from a variety of fabrics, types of collar and sleeve, based on the customer
antoniya [11.8K]

Answer: Micromarketing.

Explanation:

Micromarketing is applied by Land's end clothing company, where different tiny sections of a market are being targeted by the clothing designs and sizes produced. Micromarketing is form of marketing, where a smaller section of a large market is a company's target for sales.

6 0
3 years ago
Other questions:
  • Eccles Inc., a zero growth firm, has an expected EBIT of $100,000 and a corporate tax rate of 30%. Eccles uses $500,000 of 12.0%
    6·1 answer
  • While specialization allows firms to produce many goods and services at lower production and transaction costs than individuals
    10·1 answer
  • Which concept refers to a state of normlessness that is kept in check by group membership?
    15·1 answer
  • You are offered a chance to buy an asset for $4,500 that is expected to produce cash flows of $750 at the end of year 1, $1,000
    8·1 answer
  • It is unlawful for a person to act as a real estate agent unless such person is legally associated
    9·1 answer
  • An inexperienced accountant for Cheyenne Corp. showed the following in the income statement: income before income taxes $371,000
    13·1 answer
  • On February 1, a customer's account balance of $2,700 was deemed to be uncollectible. What entry should be recorded on February
    11·1 answer
  • According to the eTextbook, ______ is the lot size (Q) that will minimize total annual inventory cost.
    6·1 answer
  • Arded
    10·1 answer
  • how much of a stock's $30 price is reflected in pvgo if it expects to earn $4 per share, has an expected dividend of $2.50, and
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!