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Jobisdone [24]
3 years ago
15

The board of directors of Capstone Inc. declared a $0.90 per share cash dividend on its $2 par common stock. On the date of decl

aration, there were 41,000 shares authorized, 20,000 shares issued, and 7,000 shares held as treasury stock.What is the entry when the dividends are declared?
A. Dividends 11,700 Dividends Payable 11,700
B. Dividends 11,700 Cash 11,700
C. Dividends 36,900 Dividends Payable 36,900
D. Dividends 18,000 Cash 18,000
Business
1 answer:
Bas_tet [7]3 years ago
6 0

Answer:

A. Dividends 11,700 Dividends Payable 11,700

Explanation:

The journal entry to record the dividend declared is shown below:

Dividend A/c Dr $11,700

     To Dividend payable $11,700

(Being the dividend is declared)

The computation is shown below:

= (Number of shares issued - treasury stock) × cash dividend per share

= (20,000 shares - 7,000 shares) × $0.90

= 13,000 shares × $0.90

= $11,700

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What is the purpose of reporting comprehensive income?A. To provide a consolidation of the income of the firm's segments.B. To r
jek_recluse [69]

Answer:

Option D                  

Explanation:

Comprehensive earnings reporting is intended to provide a summary of all adjustments in a corporation's equity arising from acknowledged exchanges as well as other time commercial activities other than dealings with holders in their capacities as shareholders.

If included with the fiscal reports with associated reports and other details, the details generated by disclosing detailed income will assist stakeholders, lenders as well as others in determining the operations of a business, and the duration and extent of potential cash streams of a business.

6 0
3 years ago
Patricia McDonald has determined that the value of her liquid assets is $4,600, the value of her real estate is $134,000, the va
denis23 [38]

Answer:

Net worth = $169,900

Explanation:

Patricia's net worth is the difference between her assets and liabilities. It is an important measure to guage the financial health of an individual or business.

Total assets= 4,600+ 134,000+ 58,000+ 74,000

Total assets= $270,600

Total liabilities= 6,700+ 94,000

Total liabilities= $100,700

Therefore Net worth= 270,600- 100,700

Net worth = $169,900

5 0
3 years ago
The Laramie factory runs two departments: the Preparation Department and the Processing Department. The departmental overhead co
Westkost [7]

Answer:

The answer are:

  • $62.50 per direct labor hour - for preparation department
  • $33.33 per direct labor hour - for processing department

Explanation:

To calculate the departmental overhead cost per direct labor hour we must divide the total overhead cost over the total amount of direct labor hours.

Preparation department: $25,000 / 400 DLH = $62.50 per DLH

Processing department: $20,000 / 600 DLH = $33.33 per DLH

6 0
3 years ago
Now that Tim Cook has assumed the CEO position at Apple, he will have to make certain decisions to guide the firm's strategy. Wh
Alexxx [7]

Answer:

Organizational culture

Explanation:

Organizational culture can be defined as a system of shared assumptions , value , and beliefs that governs the behavior of employees in an organization environment.

One major purpose of organizational culture is that it governs it aligns the purpose of an organization to that of its employees , therefore making it easier for the central mission and vision to be achieved.

This is an internal factor that may impact Cook;s managerial discretion.

7 0
3 years ago
Richard borrowed $4600 to pay for his tuition at Queens College, the interest rate from the bank was 6.5%. How much will each mo
olasank [31]

Answer:

$408.25

Explanation:

The monthly repayment will be the amount dues at one year divided by 12 months.

The amount of due after will interest plus principle

The formula is : Amount = P x (1+ r)t

principle(p) = $4600

Interests (r)=6.5 %

Time( t)= 1 year

=4600 x(1+ 6.5/100)t

=4600 x (1+0.065)1

=4600 x 1.065

Amount due after one year =4,899

The monthly installment will be = 4,899/12

=$408.25

5 0
3 years ago
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