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Ivenika [448]
3 years ago
11

On January 1, Sway Corporation had 60,000 shares of $10 par value common stock outstanding. On March 17, the company declared a

18% stock dividend to stockholders of record on March 20. Market value of the stock was $13 on March 17. The stock was distributed on March 30. The entry to record the transaction of March 30 would include a:
Business
1 answer:
pychu [463]3 years ago
5 0

Answer:

See below

Explanation:

With regards to the above, the entry to record of March 30 would be;

Debit stock dividends $140,400

Credit common stock dividends distributable $108,000

Credit paid in capital in excess of par $32,400

Calculations;

= 60,000 shares of $10 par value

= $600,000 × Stock dividend

= $600,000 × 18%

= $108,000

Stock dividend = 60,000 shares of $13 market value

= $780,000 × Stock dividend

= $780,000 × 18%

= $140,400

Additional paid in capital = $140,400 - $108,000 = $32,400

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Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. April May June Credit sales $
ruslelena [56]

Answer and Explanation:

The presentation of the cash budget for the three months is shown below:

Particulars                April           May               June  

Beginning

cash balance          $182,000  $264,650     $434,150  

Add:

Cash receipts :    

Credit sales

collections             $577,750  $622,700      $621,650  

Total cash

available                $759,750  $887,350      $1,055,800  

Less:

Cash disbursements  

Purchases              -$289,000 -$302,000    -$282,000  

Wages, Taxes

and expenses        -$137,000   -$129,000     -$179,000  

Interest                    -$15,600    -$15,600        -$15,600  

Equipment

purchases                -$53,500    -$6,600         -$248,000  

Total

cash disbursements  -$495,100  -$453,200    -$724,600  

Ending

cash balance              $264,650   $434,150       $331,200  

Working Notes:

Cash collection from credit sales    

Particulars           March        April        May            June

Credit sales         $561,000  $689,000 $598,000 $751,000

Cash collected :    

35% cash collected

in month of sales $196,350 $241,150  $209,300  $262,850

60% cash collected

in following month

of sales                 $0           $336,600   $413,400  $358,800

Total cash

collected from sales            $577,750  $622,700  $621,650

7 0
3 years ago
insurance companies expend a lot of effort marketing their offerings, mainly due to the fact that insurance is a(n) ________blan
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Insurance companies expend a lot of effort marketing their offerings, mainly due to the fact that insurance is an unsought product that consumers don't normally think about much.

<h3>What are unsought products?</h3>

Although a buyer may feel pressured into purchasing a product they do not want, unsought commodities are frequently bought under certain circumstances, so a marketing strategy that harasses consumers into purchasing the product will be seen as immoral. A notable example of an unasked-for good is funeral services.

Unsought goods are those that consumers are unaware of or hardly ever think about purchasing and whose acquisition is motivated by a combination of risk or worry about harm and lack of desire. Examples of well-known but unpopular things are funeral services, encyclopedias, fire extinguishers, and reference books.

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7 0
1 year ago
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Answer:

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8 0
2 years ago
Look at the examples, and then determine which type of advantage each one describes.
lara [203]

Answer:

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