1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
s2008m [1.1K]
3 years ago
13

On January 1, Pharoah Company had 87000 shares of $10 par value common stock outstanding. On May 7, the company declared a 5% st

ock dividend to stockholders of record on May 21. Market value of the stock was $16 on May 7. The stock was distributed on May 24. The entry to record the transaction of May 24 would include a
Business
1 answer:
svet-max [94.6K]3 years ago
3 0

Answer: credit to Common Stock Dividends Distributable for $43500

Explanation:

Based on the information given in the question, the entry to record the transaction of May 24 goes thus:

Debit Stock Dividend = 87000 × 5% × $16 = $69600

Credit To Common Stock Dividend Distributable = 87000 × 5% × $10 = $43500

Credit To Paid in capital in excess of Par - Common Stock = $69600 - $43500 = $26100

You might be interested in
In order to make sure that audiences can correctly identify which words you are using, it is necessary to make sure you have cor
Vladimir [108]

In order to make sure that audiences can correctly identify which words you are using, it is necessary to make sure you have correct Pronunciation.

8 0
3 years ago
Read 2 more answers
a licensee has 2 closings but her broker kept part of the commission to pay for expenses the licensee charged to the company. if
podryga [215]

A licensee has 2 closings but her broker kept part of the commission to pay for expenses the licensee charged to the company. if the licensee files a complaint with the board, then the TREC does not handle disputes over commissions.

An income commission is the amount of money paid to a worker upon the crowning glory of a venture, usually selling a positive amount of products or offerings. Employers sometimes use sales commissions as incentives to increase worker productivity. A commission may be paid similarly to an income or rather than earnings.

Employers offer a commission to encourage their employees and lead them to be extra effective and generate more income and appeal to clients. sales and advertising jobs in many industries, along with vehicles and actual property, typically offer fee-based repayment.

Learn more about the commission here: brainly.com/question/957886

#SPJ4

3 0
2 years ago
The ongoing globalization of business activities has given rise to the need for consistent and comparable financial statements f
andriy [413]

Answer:

internationally comparable financial information.

Explanation:

The FASB refers to the financial accounting standards board while on the other hand, the IASB refers to the International accounting standard board. These two boards are related to accounting.

The FASB focused on the U.S accounting standards while the IASB focused on global standards

Here in the given situation, the comparison is to be done in different countries so the above should be considered as an answer

3 0
3 years ago
Harold asks his prospects several questions to understand the reasons for their hesitation in buying his product. He tries to id
Fofino [41]

Answer:

fhuafuhfuhsuihfuishfdvbcgufjvhfigirhhjfhhhfhh

Explanation:

5 0
4 years ago
If an airline company has several empty seats on a flight and the full price of an air ticket is $500 and the marginal cost per
Alexandra [31]

Answer:

d. charge a stand-by passenger more than $100.

Explanation:

Marginal costs are compared with marginal revenue to determine if addition sale or production of an extra unit is viable. Marginal cost refers to the extra expense associated with an additional unit, while marginal revenue is the gain from the sale of an extra unit.  For a business to make profits, marginal revenue should be equal or exceed marginal cost.

For the airline company, the marginal cost of an extra passenger is $100. If the company is to benefits from the many vacant seats, it must sell an extra ticket at a price greater or equal to the marginal cost. The company must sell a ticket to any stand-by passenger for more than $100.

5 0
4 years ago
Other questions:
  • If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was a
    5·1 answer
  • Where do you get your information about the world from? Do you think you are getting a complete picture of the world and social
    8·1 answer
  • RexCo and Wilkinson Motors agree to contract online. Both companies agree to an encryption security procedure to verify changes
    5·1 answer
  • Explain one way in which social media can be used to collect market research data
    14·1 answer
  • In 2019, Brazil's trade deficit as share of GDP widened. In that year, government deficit as share of GDP declined and investmen
    11·1 answer
  • Examples of tangible and intangible
    13·1 answer
  • Lower interest rates are part of tight money policy.
    6·1 answer
  • Morgan Company issues 9%, 20-year bonds with a par value of $750,000 that pay interest semiannually. The amount paid to the bond
    13·1 answer
  • Petter Jansen purchased 100 shares each in Sygnette and Joey Stores a year ago. He paid $62.85 and $121.15 per share respectivel
    13·1 answer
  • On January 3, 2019, Carey discovers his diamond bracelet has been stolen. The bracelet had a fair market value and adjusted basi
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!