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Kaylis [27]
3 years ago
6

On March 15, American Eagle declares a quarterly cash dividend of $0.105 per share payable on April 13 to all stockholders of re

cord on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 214 million shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answer in dollars, not in millions (i.e. $5.5 should be entered as 5,500,000).)
Business
1 answer:
rodikova [14]3 years ago
7 0

Answer:

March 15                 Debit                Credit

Dividends                $22,470,000

Dividends Payable                         $22,470,000

March 30     No entry

April 13

Dividends Payable   $22,470,000

Cash                                                 $22,470,000

Explanation:

In order to record American Eagle's declaration and payment of cash dividends for its 214 million shares first we would require to calculate the dividends as follows:

Dividends=214,000,000 shares*$0.105

Dividends=$22,470,000

Therefore, the journal entries would be the following:

March 15                 Debit                Credit

Dividends                $22,470,000

Dividends Payable                         $22,470,000

March 30     No entry

April 13

Dividends Payable   $22,470,000

Cash                                                 $22,470,000

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Answer:

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b-Jan-11.  Dr Utility bills payable  485

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c-Dec-31. Dr Salary expense  3990

                Cr  Salary payable                3990

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e-Dec-31 Dr Interest expense  215

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Explanation:

a-Utility expense incurred for the m/o Dec will be paid in Jan.

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7 0
3 years ago
Charles was the last person on his block to purchase a color television set, and that was in the 1980s. He just couldn't see the
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Answer:

Charles is classified in the adopter category called "Latecomers"

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Latecomers represent 16% of consumers, are insecure to adopt new things, do not like to try new things and do not follow fads. Being traditionalists, they always perform the same way and only adopt innovation when there is no other alternative. Like Charles, who only bought the color TV because his old tv stopped working.

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3 years ago
Halliford Corporation expects to have earnings this coming year of $3/share. Halliford plans to retain all of its earnings for t
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The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

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3 years ago
Raphael Corp. incorrectly expensed a major addition to equipment when the company should have capitalized the expenditure. What
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When Raphael Corp. incorrectly mentioned an expense of equipment addition instead of capitalizing the effect of the same, then in such case, the net income of the company is understated in the financial statements.

<h3>What is net income?</h3>

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7 0
2 years ago
PAC money is directed primarily toward: a. liberal candidates regardless of whether they are incumbents or challengers b. congre
pogonyaev

Answer:

E) Congressional incumbents

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