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VMariaS [17]
3 years ago
5

Wilmington, Inc. brands touch the lives of people around the world in 180 countries and territories. The P&G community consi

sts of nearly 188,000 employees. In 2014, the company had 10 billion shares of common stock authorized, 4 billion shares issued, and 3 billion shares outstanding. Par value is $1 per share. P&G has been paying a dividend for over 120 years and 2014 marks the 58th consecutive year that the Company has increased its dividend.
Required:

Assume that P&G declared a dividend of $2.45 per share on October 1, 2014, to stockholders of record on October 15. P&G paid the dividend on October 20. Prepare journal entries as appropriate for each date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0).)
1. Record the appropriate journal entry on October 1.
2. Record the appropriate journal entry on October 15th.
3. Record the appropriate journal entry on October 20th.
Record the appropriate journal entry on October 15.
Business
1 answer:
Contact [7]3 years ago
6 0

Answer:

The Journal entries are as follows:

(i) On October 1, 2014

Retained Earnings A/c  Dr. $7,350,000,000

To Dividend Payable                                        $7,350,000,000

(To record declaration of dividend on outstanding shares)

Workings:

Dividend Payable = Outstanding shares × Dividend per share

                              = 3 billion × $2.45

                              = $7.35 billion

(ii) On October 15, 2014

No Entry

(iii) On October 20, 2014

Dividend Payable A/c  Dr. $7,350,000,000

To cash                                                             $7,350,000,000

(To record payment of dividend)

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Alex17521 [72]

Answer: Option (C) is correct.

Explanation:

Total current assets = $658,000

Current Assets = total current assets - purchased equipment - salaries paid + Borrowings

= $658,000 - $2000 - $560 + $80000

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Total current liabilities = $365,000

Working Capital of James as on December 31, 2013:

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= $370,440

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3 years ago
If the nominal interest rate is 7 percent and the real interest rate is -2.5 percent, then the inflation rate is Group of answer
madreJ [45]

Answer:

Inflation = 9.5%

Explanation:

Inflation can be defined as the persistent general rise in the price of goods and services in an economy at a specific period of time.

Given the following data;

Nominal interest rate = 7 percent.

Real interest rate = -2.5 percent

Real interest rate = Nominal interest rate - Inflation

Inflation = Nominal interest - Real interest rate

Inflation = 7 - (-2.5)

Inflation = 9.5%

4 0
3 years ago
If a nation has gdp of $12,500 billion and gdp per capita of $62,500, what is the nation's population?
ira [324]

$12,500,000,000/$62,500 = 200,000,000

What Is the GDP Per Capita?

A country's economic output is broken down by its per-capita gross domestic product (GDP), which is derived by dividing the GDP by the population.

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8 0
2 years ago
Rates at business hotels are typically much lower on weekends than during the week
7nadin3 [17]

Answer: I think is True

Explanation: I hope that helps :)

5 0
3 years ago
Galvanized Products is considering purchasing a new computer system for their enterprise data management system. The vendor has
alekssr [168]

Answer:

The present worth of this investment = -$31,204.78

Explanation:

Note: See the attached excel file for the calculation of the present worth of this investment (in bold red color).

In the attached excel file, the following are used:

Loan from bank = Purchase price * (1 / 4) = $130,000 * (1 / 4) = $32,500

Initial cost = Purchase price - Loan from bank = $130,000 - $32,500 = $97,500

The annual required equal loan payments is calculated using the formula for calculating loan amortization as follows:

P = (A * (r * (1 + r)^n)) / (((1 + r)^n) - 1) .................................... (1)

Where,

P = Annual required equal loan payment = ?

A = Loan amount from bank = $32,500

r = interest rate = 12%, or 0.12

n = number of payment years = 3

Substituting all the figures into equation (1), we have:

P = Annual required equal loan payment = ($32,500 * (0.12 * (1 + 0.12)^3)) / (((1 + 0.12)^3) - 1) = $13,531.34

From the attached excl file, the present worth of this investment is equal to -$31,204.78

Download xlsx
3 0
3 years ago
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