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Serjik [45]
3 years ago
12

Frey & Felder (F&F) brands touch the lives of people around the world in 180 countries and territories. The F&F comm

unity consists of nearly 189,500 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. F&F has been paying a dividend for over 120 years and 2014 marks the 58th consecutive year that the Company has increased its dividend.
Assume that F&F declared a dividend of $2.51 per share on October 1, 2014, to stockholders of record on October 15. F&F paid the dividend on October 20. Prepare journal entries as appropriate for each date.
Business
1 answer:
gtnhenbr [62]3 years ago
6 0

Answer: Please refer to Explanation

Explanation:

2014

Oct 1

DR Retained Earnings $7,530,000,000

CR Dividends Payable $7,530,000,000

(To record announcement of dividends payable)

2014

Oct 15

No entry. Not relevant to financial statement.

2014

Oct 20

DR Dividends Payable $7,530,000,000

CR Cash $7,530,000,000

(To record payment of Dividends).

Workings

Dividends Payable.

There are 3 billion shares outstanding and dividends are paid on shares outstanding.

Dividend is $2.51 per $1 per share so,

= 3,000,000,000 * 2.51

= $7,530,000,000

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The Golden Rule instructs people to make decisions for others based on their own personal preferences. Putting yourself in another person's shoes or "doing unto others as you would have them do unto you" are two common definitions of the Golden Rule (Baumrin 2004).

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2 years ago
The following data apply to Elizabeth's Electrical Equipment:
Romashka [77]

Answer:

$50

Explanation:

Calculation to determine the intrinsic per share stock price be immediately after the repurchase

First step

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Second step

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3 years ago
Assume that Jack, Hal, and Sophia enter into a valid contract for the sale of the restaurant and for the covenant not to compete
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2 years ago
_____ involves comparing the percentage of minorities and the percentage of women employed in each job category to the availabil
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Answer:

The correct answer is letter "A": Job group analysis.

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3 0
3 years ago
Read 2 more answers
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