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
Paha777 [63]
4 years ago
14

On March 1, Year 1, Gilmore Incorporated declared a cash dividend on its 1,500 outstanding shares of $50 par value, 6% preferred

stock. The dividend will be paid on May 1, Year 1 to the stockholders of record as of April 1, Year 1. How will the entry to record the declaration of the dividend on March 1 affect the elements of the financial statements?
Business
1 answer:
Aleksandr-060686 [28]4 years ago
8 0

Answer:

Dividend Declared (SCE) $4,500 (credit)

Shareholders for Dividends (SFP) $4,500 (credit)

Explanation:

When Dividends are declared, we recognize an Equity Element - Dividend Declared and a liability (Present Obligation that arises with declaration) to the Shareholders of the dividend.

<u>Entry :</u>

Dividend Declared (SCE) $4,500 (credit)

Shareholders for Dividends (SFP) $4,500 (credit)

Dividend Calculation = 1,500 × $50 × 6%

                                   = $4,500

You might be interested in
4. If your checking account's balance is
levacccp [35]
A. $2164.89
Basically just subtract, 3,678.89-1514 = 2,164.89
6 0
3 years ago
The owners of a corporation are the __________ (shareholders of the company, board of directors, or management team members). Th
mario62 [17]

Answer :

The owners of a corporation are the __________ (shareholders of the company, board of directors, or management team members). The primary goal of the corporate management team is to (minimize or maximize) the shareholder's wealth by __________ (minimizing or maximizing) the company's (employee retention and efficiency, company's stock price, or company's production costs) over the long run.

Explanation :

Shareholders are the primary owners of the company who have company's common stock with expectation on their investment in form of dividends and share appreciation.

The primary goal of the corporate management team is to maximize the wealth of their principal (shareholders) who have entrusted them with their fortunes .

Shareholders' wealth maximization objective is achieved when management team invest in a viable project or reduce the operating costs of the company.

6 0
3 years ago
When entering traffic, you should activate your turn signal after
yanalaym [24]
Check traffic<span> around </span>you<span> (rear, sides and front). Look for a gap of 4 to 5 seconds in</span>traffic<span>. </span>Activate your turn signal<span> (do this at least 100 feet before </span>you<span> make the lane change). Check </span>your<span> mirrors (rear-view then </span>your<span> side mirrors).</span>
6 0
3 years ago
A client has created a budget based on their customer, Lou's Luggage. They want a report that shows actuals versus budget for th
SCORPION-xisa [38]

Answer:

2. Select Lou's Luggage budget

3. Show grid Accounts vs. Quarters

4. Filter for Lou's Luggage customer  

<u>From online research, the question and multiple choices</u>

Which 3 customization are necessary?(Select all that apply)

1. Filter by Paid status

2. Select Lou's Luggage budget

3. Show grid Accounts vs. Quarters

4.  Filter for Lou's Luggage customer          

5. Filter by Product/Service = Specified

Explanation:

Getting to Lou's luggage customer reports requires drilling down to the specifics. the system will give the reports by following the steps below.

2. Select Lou's Luggage budget

3. Show grid Accounts vs. Quarters

4. Filter for Lou's Luggage customer  

4 0
3 years ago
Spontaneous financing refers
nadezda [96]

Answer: In business, "spontaneous finance" refers to financing that arises out of regular, day-to-day operations. Unlike with other common sources of financing, such as loans or bonds, obtaining additional spontaneous financing doesn't require any special action by the company; it just "happens," hence the name spontaneous.

6 0
2 years ago
Other questions:
  • Assuming that taxes and net exports are zero, government purchases of goods and services are equal to $12, and gross private dom
    5·1 answer
  • Which bond recommendation would be the MOST safe for an individual who seeks income that is free from federal income tax?
    11·1 answer
  • Historically, the geographic division structure is associated with companies pursuing ________ strategies.
    15·1 answer
  • Suppose during a year an economy produces $10 trillion of consumer goods, $4 trillion of investment goods, $6 trillion in govern
    5·1 answer
  • A Coase solution to a problem of externality ensures that a socially efficient outcome is to internalize the externality through
    9·1 answer
  • During the past year, a company had cash flow to stockholders, an operating cash flow, and net capital spending of $16,497, $40,
    6·1 answer
  • Based on this research, which activity is this
    9·1 answer
  • A firm is considering moving from the United States to Mexico. The firm pays its U.S. workers $30.00 per hour. Currently, U.S. w
    10·1 answer
  • what term is used to describe the approach taken by companies such as magicleap.com where physical and digital objects are able
    10·1 answer
  • What percentage of donald (dax) cowart's body was burned in the fire on july 23,1973?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!