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
Ganezh [65]
3 years ago
14

Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 37,000 shares authorized, 19,2

00 shares issued, and 14,800 shares of common stock outstanding. The journal entry to record the dividend declaration is:
A. Debit Common Dividends Payable $7,400; credit Cash $7,400.
B. Debit Retained Earnings $9,600; credit Common Dividends Payable $9,600.
C. Debit Common Dividends Payable $9,600; credit Cash $9,600.
D. Debit Retained Earnings $18,500; credit Common Dividends Payable $18,500.
E. Debit Retained Earnings $7,400; credit Common Dividends Payable $7,400.
Business
1 answer:
kipiarov [429]3 years ago
4 0

Answer:

E. Debit Retained Earnings $7,400; credit Common Dividends Payable $7,400.

Explanation:

The Journal entry is shown below:-

Retained earnings Dr, $7,400 (14,800 × $0.50)

             To Common dividend Payable $7,400

(Being dividend declaration is recorded)

Here to record the dividend declaration we simply debited the retained earnings as it decreased the stockholder equity and credited the common dividends payable as it increased the liability

So the correct option is D.

You might be interested in
A corporation reports the following year-end balance sheet data. The company's equity ratio equals: Cash $ 58,000 Current liabil
aleksley [76]

Answer:

Option D. 0.63

Explanation:

Equity ratio can be calculated by dividing Total equity and total

assets as given in the question

DATA

Total assets = $372,000

Total Equity and liabilities = $372,000

Solution

Total equity = total assets - total liabilities

Total equity = $372,000 - $93,000 - $44,000

Total equity = $ 235,000.

Equity Ratio = Total Equity / Total Asset.

Equity Ratio = $ 235,000 / $ 372,000

Equity Ratio = 0.63.

8 0
2 years ago
The Town of Little River expects to collect $90,000 in sales tax from the state government within 30 days of the end of fiscal y
dimaraw [331]

Answer:

D. Due from state government 90,000 Revenues control 90,000

Explanation:

Since the town of little river still expects to collect $90,000 in sales tax from the state government within 30 days after then end of fiscal year 2020 for retail sales taking place in fiscal year 2020 but have not yet received the cash or amount, it will be entered into the account as Due from state government $90,000. Money is due because as stated earlier, the little town isn't receiving it during that fiscal year but rather within 30 days after the fiscal year. It would also be entered as revenue control of $90,000.

6 0
3 years ago
You are the operations manager of a firm that uses the continuous-review inventory control system. Suppose the firm operates 52
Effectus [21]

Answer:

C. Greater than $6 but not greater than $9

Explanation:

The computation of the  unit holding cost per year is shown below:

As we know that

Economic\ order\ quantity = \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}

where,

Annual demand is 450 × 52 weeks = 23,400 units

Ordering cost is $35 per order

Economic order quantity is 468 units

Now placing these values to the above formula

468\ units = \sqrt{\frac{2\times \text{23,400}\times \text{\$35}}{\text{Carrying\ cost}}}

Now to find out the carrying cost, the calculation is given below:

= (2 × 450 units × $35) ÷ 468^2

= $7.48 per unit

The carrying cost is also known as holding cost

6 0
3 years ago
Assuming a country's economy maintains an 8% rate of growth, young adults starting at age 20 would see the average standard of l
kogti [31]

The formula for exponential growth rate is:

A = Ao e^(k t)

where A is the final standard of living, Ao is the initial, k is the growth rate constant in decimal = 0.08, t is time elapsed

 

So we will find t at A/Ao = 2

A/Ao = e^(k t)

2 = e^( 0.08 t)

t = 8.66 ~ since more than therefore 9

 

So by the time they reached age 29

5 0
3 years ago
The method used to share an idea with an audience is called what? 6 points
Natalka [10]
The answer is medium. In the communication process, a medium is a channel or system of communication. The means by which information or the message is transmitted between speakers or writer which is the sender and an audience which is the receiver. In addition, the communication media denotes to the means of transporting and receiving data or information. In telecommunication, these means are conduction and channels for data storage and conduction.
8 0
2 years ago
Other questions:
  • Why do people have piggie banks answer please
    11·2 answers
  • Sam Weller is thinking of investing $70,000 to start a bookstore. Sam plans to withdraw $15,000 from the business at the end of
    13·1 answer
  • How does a firm generally respond to higher demand for its goods?
    6·2 answers
  • On November 1, 2018, Taylor signed a one-year contract to provide handyman services on an as-needed basis to King Associates, wi
    12·1 answer
  • Socialism is __________. a) an economic system based on private property and market exchange. b) an economic system where the go
    9·1 answer
  • Many levels of energy does an atom have?​
    6·1 answer
  • A company must account for a contract modification as a new contract if Group of answer choices the modification adds distinct g
    6·1 answer
  • Which controls almost all of the media industry?
    13·1 answer
  • Organizational buyers, when compared to buyers of consumer goods, are........ in number, geographically............. and .......
    7·1 answer
  • Read this prompt. create a multimedia presentation about clothing and waste. use research and evidence to support your opinion.
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!