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
Ann [662]
3 years ago
10

The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1 par common stock. On the date of decl

aration, there were 50,000 shares authorized, 20,000 shares issued, and 5,000 shares held as treasury stock. What is the entry for the dividend declaration? 1.Retained earnings 9,000 Cash dividends payable 9,000 2.Retained earnings 9,000 Cash 9,000 3.Retained earnings 10,000 Cash dividends payable 10,0004. Retained earnings 10,000 Cash 10,000
Business
1 answer:
miss Akunina [59]3 years ago
8 0

Answer:

Dr Retained earnings $9,000

Cr Dividends payable                $9,000

Explanation:

The number of shares eligible for dividends is the issued common stock minus treasury stock, that is 15,000 shares(20,000-5,000),as a result ,dividends of $9000 (15,000*$0.6) were declared.

The appropriate entries on the declaration date is to debit retained earnings with $9,000 and credit dividends payable account with $9000

Upon payment, the dividends payable would be debited and cash account credited.

You might be interested in
You will have $____ in six years if you set aside $5,000 at 8%. (use the future value tables from chapter 5.)
Stolb23 [73]

Answer:

7,934.35

Explanation:

3 0
2 years ago
What's the first step in starting a business
Pavlova-9 [17]
The first step to creating any sort of business is to plan.

Answer : Write a business plan.

Doing so will allow you to know what will happen in what order, so it doesn't all come at you unexpectedly, and this typically makes starting a business much smoother.


Hope this helped! :)


6 0
3 years ago
The greatest amount of foreign exchange trading takes place in the following three cities:
irina1246 [14]

Answer:

The correct answer is letter "A": New York, London, and Tokyo.

Explanation:

New York City is still considered the world center for <em>foreign exchange</em> (forex) trading only followed by London and Tokyo. The main currencies being traded are the <em>U.S. dollar (USD), Euro (EUR) </em>and <em>the Japanese yen (JPY)</em>. Some analysts believe soon the <em>Chinese renminbi (CNY)</em> will take an important place among the previously mentioned three currencies.

8 0
3 years ago
Magic Events, Inc. is a global concert promoter that is organizing the world concert tour of the newest boy band. The company ha
Grace [21]

Answer:

A. as much advertising to fans as possible

Explanation:

The event triangle is made up of these 3 components

1. The participants

2. The sponsors

3. The spectators

Here the fans represent the spectators. They are the most critical factor of the event triangle .

The spectators are those who the boy band would be playing for. They are the ones who would go out to watch the event.

The spectators become monetary when the advertisement gets them to buy tickets for the event. That is they pay a fee to watch the event.

Primarily they provide necessary financial support for the event plus the money made from adverts.

3 0
2 years ago
Suppose that papers for a newspaper stand cost $0.40 and sell for $0.80. They currently have no salvage value.
nalin [4]

Answer and Explanation:

d. 0.07 (7%)  

3 0
3 years ago
Other questions:
  • Which of the following is indicative of a short-term restrictive financial policy? a) purchasing inventory only as needed b) gra
    15·2 answers
  • Suppose that Paolo, an economist from an AM talk radio program, and Sharon, an economist from a public television program, are a
    6·1 answer
  • Which of the following is NOT a reason individuals typically choose to save? 1. to smooth their consumption over the life cycle
    13·1 answer
  • A customer owns 1,000 shares of XYZZ stock, purchased at $40 per share. The stock is now at $45, and the customer has become neu
    15·1 answer
  • 2–2 What role do financial markets play in our economy?
    7·1 answer
  • in the market for widgets, the supply curve is the typical upward-sloping straight line, and the d curve is the typical downward
    8·1 answer
  • On October 5, your company buys and receives inventory costing $5,000, on terms 2/30, n/60. On October 20, your company pays the
    5·1 answer
  • Define mortgage- backed securities.​
    13·2 answers
  • Your finance textbook sold 49,000 copies in its first year. The publishing company expects the sales to grow at a rate of 25 per
    5·1 answer
  • Hamner Time has sales of $122,000, costs of $54,600, depreciation of $32,800, interest of $12,000, and a tax rate of 21 percent.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!