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blsea [12.9K]
2 years ago
9

Blossom Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,050 shares of $50 par valu

e preferred stock and 102,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $4,625; 2020, $13,500; and 2021, $28,500.
Required:
Journalize the declaration of the cash dividend at December 31, 2021.
Business
1 answer:
kifflom [539]2 years ago
5 0

Answer:

December 31, 2021

Debit : Dividends $28,500

Credit : Shareholders for Dividends $28,500

Explanation:

The Dividends declared present a present obligation by the entity to its shareholders.

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The list price of a glue gun is $34.60. the trade discount rate is 17% what is the next price
kap26 [50]

Answer:

Explanation:

40.48

4 0
3 years ago
Ryan’s Hunting Emporium sells hunting equipment. The store advertises its equipment in a popular magazine that is distributed ev
MrRissso [65]

Answer:

The correct answer is letter "C": continuous.

Explanation:

A continuous media schedule is a marketing technique in which advertisement is published always at the same time and after the same period of time during a day, week, or month. This is done in different means of communication such as television, radio, or social media to take advantage of the content in order to relate it with the product or service offered.

4 0
3 years ago
A cash-basis sole proprietor had the following cash receipts and disbursement for the year: Net sales - $80,000 Cost of goods so
DIA [1.3K]

Answer:

Net Income is $17,000

Explanation:

A sole proprietor is not taxed as a business entity but all the income and expenses should be reported on the income tax return. On schedule C all the details of profit and loss should be submitted with Form 1040.

Net profit calculation to report on Schedule C is as follow:

Net sales -                          $80,000

Cost of goods sold           <u>($40,000)</u>

Gross Income                    $40,000

Operating expenses        <u>($20,000)</u>

Operating Income             $20,000

Employee payroll taxes   <u>($3,000)</u>

Net Income                       <u> $17,000 </u>

3 0
3 years ago
The Yale Company has one bond outstanding. The bond has a $20,000 face value and matures in 20 years. The bond makes no interest
natima [27]

Answer:

$16,695.11

Explanation:

the price of the bond is equal to the present value of its cash flows:

value of cash flows in year 6 = $1,100 x 12.75523 (PV annuity factor, 16 periods, 2.8%) = $14,030.75

value of cash flows in year 14 = $1,400 x 10.07390 (PV annuity factor, 12 periods, 2.8%) = $14,103.46

present value in year 0 = [$14,030.75 / 1.056⁶] + [$14,103.46 / 1.056¹⁴] = $10,118.06 + $6,577.05 = $16,695.11

8 0
3 years ago
"The interest rate charged from the banks to broker-dealers on loans where securities are collateral is the:"
vampirchik [111]

Answer: broker loan rate

Explanation:

The broker loan rate is also refered to the call loan rate and it is the interest rate that is charged from the banks to broker-dealers on loans where securities are collateral.

It should be noted that the iterest rates that are given on broker loan rates are just a little above the short term interest rates.

6 0
2 years ago
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