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
Ness, a broker, advises Ollie to invest in Penny Stock Inc. When the share price of Penny’s stock drops, Ollie accuses Ness of f
DerKrebs [107]

Answer: d. a misrepresentation of a fact knowing it is falso

Explanation:

Reliance that gives rise to liability for fraud requires intentional misrepresentation, that is a misrepresentation of a fact knowing that it is false. If Ness, the broker intentionally misled Ollie and advised Ollie to buy Penny stock shares based on Ness's  that the stock price will rise Ness will be charged with fraud.

5 0
4 years ago
In an attempt to reduce poaching of elephant tusks for ivory, officials in Kenya burned illegally gathered ivory. Economists ten
Brut [27]

Answer:

b. the supply of ivory has fallen, leading to an increase in price and reward for poaching.

Explanation:

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.

Poaching can be defined as an illegal or illegitimate procurement (purchase) of protected wildlife living organisms such as elephants, fish, trees, gaming, etc.

In an attempt to reduce poaching of elephant tusks for ivory, officials in Kenya burned illegally gathered ivory. Economists tend to point out that the supply of ivory has fallen, leading to an increase in price and reward for poaching in accordance with the law of supply.

This ultimately implies that, an increase in the price level of a product usually results in a decrease in the quality of real output demanded along the aggregate demand curve.

6 0
3 years ago
What could this sign is on the left side
Mnenie [13.5K]

Answer:

well the sign on the left showes a coffee and on the right they said twi dollars for the brewed coffee

4 0
3 years ago
Burr Publishers purchased a building on March 20, 20Y1, for $160,000. Other amounts related to this purchase are as follows:
RUDIKE [14]

Answer:

1. Which amount related to this purchase should be recorded in the accounting records?

  • d. 160,000.

According to the historical cost principle, assets must be recorded at their original purchase price, only accumulated depreciation can adjust their value.

2. The resources owned by a business are its _____.

  • c. assets.

Assets are all the resources a business uses to carry out their normal business activities and operations.

3. The rights and claims of creditors on a company's assets are represented by _____.

  • a. liabilities.

Liabilities represent all the debts that a company has.

4. Which element of the accounting equation represents the rights of owners?

  • b. owner's equity.

Equity refers to the part of a company owned by its stockholders or owners. A company can finance itself through all equity, or it can have a mixed financing structure with equity and debt (liabilities). The investment made by the owners of a company is represented by the equity part of the balance sheet.

6 0
4 years ago
Stacy purchased a stock last year and sold it today for $4 a share more than her purchase price. She received a total of $1.15 p
dusya [7]

Answer: B. The capital gains yield is positive.

Explanation:

The Capital Gains Yield is a percentage figure that tells how much an investment has increased in price from it's acquisition.

It works by taking the new value and dividing it by the original value.

Using Stacy as an example, the Stock increased by $4 so assuming she bought the stock for even $0.1 then her Capital Yield is,

= 4/0.1

= 40 * 100%

= 4000% which is positive

As long as the stock was sold for more than it was bought, Capital Yield Gain is positive.

7 0
4 years ago
Other questions:
  • Which of the following is the best example of clear and concise writing for a réesumé
    14·1 answer
  • Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,300 of direct materials, $6,966 of di
    5·1 answer
  • The best way to focus your attention on your most important daily goals is to use a
    14·1 answer
  • Which of the following statements is true regarding a cross-functional team?A) A cross-functional team is made up of employees f
    13·1 answer
  • Keyboarding or typing 100 words per minute can be thought of as a?
    8·2 answers
  • burger king, the resaurant chain, sold a store location to mcdonalds. How can burger king determine the sale price of the sotre
    9·1 answer
  • 1. In the problem solving process, which step comes before Take Action?
    9·1 answer
  • Which of the following is one of the basic consumer rights? O A. Opportunity O B. Wealth O c. Access O D. Education SUBM​
    10·2 answers
  • Could somebody do my quiz for me on e2020?<br> don't fail make good grades
    15·1 answer
  • If a company must expand capacity to accept a special order, it is likely that there will be:____.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!