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Dovator [93]
4 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]4 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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Answer:

The answer is C.It makes recommendations that are validated using machine learning.

Explanation:

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7 0
3 years ago
What is the normal balance for the allowance for doubtful accounts (debit or credit), and why?
abruzzese [7]

The allowance for doubtful accounts has a normal credit account.

This account is a contra-asset account. Since assets have a normal debit balance, this account would have a normal credit balance.

7 0
3 years ago
You have a small business that makes $50,000 accounting and economic profit for you. As a disabled person, you must work at home
kifflom [539]

Answer: This means: "d. Your economic profit has gone down and your accounting profit has stayed the same."

Explanation: The difference between the accounting and economic benefit is associated with the type of cost that each includes:

The accounting benefit is nothing more than the difference between income and cost.  In this case it is still $50000.

The economic benefit includes not only explicit costs. The economic benefit is the difference between income and total costs (explicit and implicit). Therefore, this benefit is less than the accounting benefit. Because in this case the cost of working at home is considered.

5 0
3 years ago
Eve Cosmetics Company consists of two departments, Blending and Filling. The Filling Department received 50,000 ounces from the
elena55 [62]

Answer:

The number of ounces started and completed during the period is <u>42,000 ounces</u>.

Explanation:

The number of ounces started and completed during the period can be computed by simply deducting the beginning work in process from the number of ounces completed.

Since we have the following from the question:

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Therefore, we have:

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Ordered merchandise = $700

Open-to-buy = $2,500 - ($1,200 + $700)
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Open-to-buy = $600
3 0
4 years ago
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