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Black_prince [1.1K]
3 years ago
6

Fetzer Company declared a $0.55 per share cash dividend. The company has 200,000 shares authorized, 190,000 shares issued, and 8

,000 shares in treasury stock. The journal entry to record the payment of the dividend is:
Business
1 answer:
Firlakuza [10]3 years ago
7 0

Answer:

Please see journals below

Explanation:

Retained earnings Dr $104,000

Common dividend payable Cr $104,000

Common dividend payable Dr $104,000

Cash Cr. $104,000

Retained earnings Dr $100,100

Common dividends payable Cr $100,100

Common dividends payable Dr $100,100

Cash Cr $100,100

Retained earnings Dr $110,000

Common dividends payable Cr $110,000

Working

Dividends payable

= 190,000 × $0.55

= $104,000

Common dividend payable

= $0.55 × (190,000 shares - 8,000 shares)

= $100,100

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When the price of butter was "low," consumers spent $5 billion annually on its consumption. When the price doubled, consumer exp
faust18 [17]

Answer:

The correct answer is: No, this situation is impossible.

Explanation:

To begin with, in the reality the situation with the demand curve is all the opposite. The <em>law of demand</em> establishes that there is an indirect relationship between the price of a product and its quantity demanded in the market, therefore that when the price of a good increases then its quantity demanded decreases. And it is by logic as well, because no one will buy more of something if the products is more expensive than it was before. Therefore that the situation in the text is impossible and it could only be opposite.

7 0
3 years ago
On October 1, 2017, Sharp Company (based in Denver, Colorado) entered into a forward contract to sell 330,000 rubles in four mon
Yuliya22 [10]

Solution:

Date             Account tides           Debit (S in ruble)      Credit (S in ruble)

                 and Explanation

Oct 1        Accounts receivable             96,600

                    Sales

          ( 210,000 ruble x $0.46)                                       96,600

Dec 31     Accounts receivable

           ( 50.49-50.46) x (210,000 ruble)   6,300

             Foreign Exchange gain                                       6,300

          Loss on forward contract            2079,21

                   Forward Contract

     (50.52-50.51) x 210,000 ruble =2,100

             2,100 x 0.9901= $2079.21                                2079.21

Jan31        Accounts receivable (LC U)       4,200

                   Foreign exchange gain

            (50.51-50.49) x 210,000 ruble                               4200

                     Foreign currency                 107,100

                 Accounts receivable

           (596.600-56,300-54,200)                                   107,100

                          Cash                              107,100

               Foreign cuuency (LCU)

                ($0.51 x210.000 ruble)                                      107,100  

6 0
3 years ago
What is a franchise???
balandron [24]

A franchise is defined as:

an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, e.g., providing a broadcasting service or acting as an agent for a company's products.

Hope this helped! xx

8 0
3 years ago
An injection molding system has a first cost of $175,000 and an annual operating cost of $87,000 in years 1 and 2, increasing by
shusha [124]

Answer:

The ESL is 5 years and annual worth is $143,711

Explanation:

If negative values are not allowed, you can enter 143,711 as the annual worth

  • DF = Discounting factors are calculated by using the formula 1/1.14.

  • CF = cash flows. 3500 is added on annual basis from 3rd year, since the increase is per year.

  • Fifth year CF = 45000 is obtained as - 97500 + salvage value ( 210000 * 25%) 52500 = 45000.

  • AWF = Annual worth factor is obtained by dividing each year DF with the Total of DF.

  • In the last step we multiply CF and AWF to get equivalent annual worth.

Use the following formula:

AW = - 210000 / PVIFA - 87000 [ PV(1)/PVIFA] - 87000 [ PV(2) / PVIFA] - 90500 [  PV(3) / PVIFA] - 94000 [  PV(4) / PVIFA] - 45000 [  PV(5) / PVIFA].

7 0
3 years ago
During its first year of business, Oceanic, Inc. has sales of $300,000 and pays warranty claims of $10,400. Oceanic offers a one
Helga [31]

Answer:

$4,600

Explanation:

The computation of the balance in Oceanic's Warranty Liability account is shown below:

= Sales × estimated percentage - warranty claims

= $300,000 × 5% - $10,400

= $15,000 - $10,400

= $4,600

We simply find out estimated warranty cost and then deduct the warranty claims so that the accurate value can come.

Thus, All the items are need to be considered for the computation part.

5 0
3 years ago
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