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Dovator [93]
3 years ago
11

Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 20,000 shares authorized, 9,00

0 shares issued, and 8,000 shares of common stock outstanding. The journal entry to record the dividend declaration is ______.
Multiple Choice:
O Debit Common Dividends Payable $4,500; credit Cash $4,500
O Debit Common Dividends Payable $4,000; credit Cash $4,000.
O Debit Retained Earnings $4,000; credit Common Dividends Payable $4,000.
O Debit Retained Earnings $4,500; credit Common Dividends Payable $4,500.
O Debit Retained Earnings $10,000; credit Common Dividends Payable $10,000.
Business
1 answer:
hichkok12 [17]3 years ago
8 0

Answer:

O Debit Retained Earnings $4,000; credit Common Dividends Payable $4,000.

Explanation:

Dividend declared = $0.5 per share

Total Authorized shares = 20,000 shares

Total Issued Shares = 9,000 shares

Total Outstanding shares = 8,000 shares

As outstanding shares are only eligible shares for the dividend payment.

Total Dividend Payment = $0.5 per share x 8000 shares

Total Dividend Payment = $4000

Journal Entry for this event

                                 Dr.             Cr.

Retained Earning    $4,000

Common Dividend Payable   $4,000

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Capitalism because it was on the day they did it
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3 years ago
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Compared to a perfectly competitive firm, the demand schedule of a monopolistically competitive firm faces is:________
Volgvan

Compared to a perfectly competitive firm, the demand schedule of a monopolistically competitive firm faces <u>downward-sloping demand curves</u>.

A monopolistic market is a theoretical situation that describes a marketplace in which only one agency might also provide products and services to the public. A monopolistic market is the other of a perfectly competitive marketplace, in which an endless variety of companies function.

Monopolistic opposition exists while many businesses offer competing products or services which might be similar, but not best, substitutes. The barriers to access in a monopolistic competitive industry are low, and the choices of anyone firm do now not directly have an effect on its competition.

A monopoly has management over the supply of the product but though it can are seeking to influence the demand, it does not have management over it. In truth, a monopoly has to make a preference. it may set the price, but then it has to just accept the extent of income, consumers is prepared to buy at that fee.

Learn more about monopoly here: brainly.com/question/13113415

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5 0
1 year ago
Alliance Company’s budgets production of 24,000 units in January and 28,000 units in the February. Each finished unit requires 4
anyanavicka [17]

Answer:

Budgeted material cost for January is $ 256,000

Explanation:

Computations

<u>Raw materials requirement for January</u>

Units to be produced in January                                               24,000 units

Raw material requirement for January at 4 pounds per unit     96,000 pounds

<u>Raw materials requirement for February</u>

Units to be produced in February                                               28,000 units

Raw material requirement for February at 4 pounds per unit    112,000 pounds

40  % of requirement of February to be available end January  <u>44,800 pounds</u>

<u>Purchases for January</u>

Closing Inventory+ Consumption -Opening Inventory

44,800 pounds + 96,000 pounds  - 38,400 pounds =           102,400 pounds

Cost per pound  $ 2,50 per pound  = $ 256,000

4 0
3 years ago
You run a school in Florida. Fixed monthly cost is $5,835.00 for rent and utilities, $5,906.00 is spent in salaries and $1,061.0
olga55 [171]

Answer: 1.621

Explanation:

The old charge per student was $678 per month

The new charge is $1,099.

The percent of the new charge compared to the old according to the question methodology is:

= New charge per student / old charge per student

= 1,099/678

= 1.621

3 0
3 years ago
A local clinic (institution) in need of more Purell antibacterial soap might purchase from Target, which is a ______ of soap, wh
oksano4ka [1.4K]

Answer:

The target is a re-seller

McGraw-Hill is a manufacturer

Explanation:

Purchasing Purell antibacterial soap from a target is re-seller, meaning the target is neither the producer nor the distributor of products but haven given name of such company like McGraw-Hill, one will know that McGraw-Hill is major publisher of books and their books are well local high school around the world. This makes the local high school that might bought from McGraw-Hill buying from a manufacturer

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