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
sasho [114]
3 years ago
7

Eastline Corporation had 11,000 shares of $10 par value common stock outstanding when the board of directors declared a stock di

vidend of 3,520 shares. At the time of the stock dividend, the market value per share was $14. The entry to record this dividend is:______.
a. Debit Retained Earnings $49.280 Credit Common Stock Dividend Distributable $49.280
b. No entry is needed
c. Debit Common Stock Dividend Distributable $49,280, credit Retained Earning 549.280.
d. Debit Retained Earnings $35200. cred Common Stock Dividend Distribble $35.200
e. Debit Retained Emming $49.280 credit Common Stock Dividend Darts $35.200, credit Peld in Capital in Bress of Par Value. Common Stock $14,080
Business
1 answer:
andrey2020 [161]3 years ago
3 0

Answer:

e. Debit Retained earning $49,280 Credit Common stock dividend distributable $35,200

Credit Paid in capital in excess of par value(Common stock) $14,080

Explanation:

The journal entry is as follows:

Retained earnings (3,520 shares × $14)

Dr $49,280

_______ Common stock dividend distributable (3,520 shares × $10)

Cr $35,200

_______ Paid in capital in excess of par value ($49,280 - $35,200)

Cr $14,080

You might be interested in
Pool line is the manufacturer of a pool cleaning system that has been called by the pool construction industry, "the miracle we
attashe74 [19]

The answer is Pool Cleaning Systems. The relevant market product is Pool Cleaning System. It is engineered to clean the entire pool, including floors, steps, benches, even spas. Nozzles pop up consecutively to direct a power jet of water to direct debris towards the MDX-R3 drain.

8 0
3 years ago
Mars Corp. is choosing between two different capital investment proposals. Machine A has a useful life of four years, and machin
Zigmanuir [339]

Answer:

c. Mars should invest in Machine B becuase the net present value of Machine A after 4 years is lower than the net present value of Machine B after 4 years.

Explanation:

Net present value is the present value of after tax cash flows from an investment less the amount invested.

Considering that machine b can be sold on 4 years, The NPV of machine b should be calculated based on the cash flow in for 4 years

NPV can be calculated using a financial calculator.

Machine A :

Cash flow in year 0 = $-200,000

Cash flow each year from year 1 to 4 = $70,000

I = 10%

NPV = 21,890.58

Machine B :

Cash flow in year 0 = $-200,000

Cash flow each year from year 1 = $80,000

Cash flow each year from year 2 = $70,000

Cash flow each year from year 3 = $60,000

Cash flow each year from year 4 = $40000 + $35,000 = $75,000

I = 10%

NPV = $26,883.41

Machine b should be accepted because its NPV is greater than that of machine A

To find the NPV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

6 0
3 years ago
Which of the following statements is(are) false regarding the direct method of allocating service department costs?
QveST [7]

Correct Question:  Which of the following statements is (are) false regarding the direct method of allocating service department costs?

(A) The selection of an allocation base in the direct method is easier than the selection of an allocation base in the step method.

(B) Once an allocation is made from a service department using the direct method, no further allocations are made back to that department.

A. Only A is false.

B. Only B is false.

C. Neither A nor B is false.

D. Both A and B are false.

Answer:

A, Only A is false

Explanation:

The selection of an allocation base in the direct method is easier than the selection of an allocation base is false in that allocation base in step method allocates support costs to the support departments and the operating departments that recognise the services provided betwenn thos suport departments.

Cheers.

8 0
3 years ago
Which of the following is considered to be a financial statement?
lakkis [162]

Answer:

Balance sheet

Explanation:

5 0
3 years ago
Isadora, a finance manager, is budgeting for the company's new line of production equipment. this equipment, which will be used
Ostrovityanka [42]

Isadora, a finance manager, is budgeting for the company's new line of production equipment. this equipment, which will be used for 20 years or more, is handled out of a(n) <u>capital </u>budget.

When evaluating the profitability of a business opportunity or asset, such as when entering a new market or purchasing new machinery, capital budgeting uses a number of formulas.

The capital budgeting procedure used to decide strategically whether to accept or reject a suggested investment project.

Investors may view a business owner's decision to make a long-term investment without capital budgeting as reckless. You can better comprehend a project's possible risks and rewards by using the capital budgeting analysis.

When pursuing a new investment project, a capital budget can also help with securing additional financing from banks or investors.

To learn more about Capital Budgeting here

brainly.com/question/23719404

#SPJ4

8 0
2 years ago
Other questions:
  • A consumer is someone who uses goods and services.<br> True<br> False
    5·2 answers
  • When practical and​ reasonable, U.S. auditing standards require the confirmation of
    9·1 answer
  • ABC Corporation distributes property to its sole shareholder, Andre. The property has a fair market value of $350,000, an adjust
    14·1 answer
  • Zara has developed the practice of delivering less merchandise to its stores on a more frequent basis. This quick response syste
    6·1 answer
  • Which of the following is correct? a. Over the last 100 years Japan had a higher average growth rate than the United States. It
    13·1 answer
  • Two roadway designs are under consideration for access to a permanent suspension bridge. Design 1A will cost $1.7 million to bui
    5·1 answer
  • During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 80,000 mini refrigerators, of whi
    7·1 answer
  • A certain project has a project cost of $387,000 and the annual inflows resulting from the product created is $64,000. What is t
    7·1 answer
  • An expression of the activity of a process as the number of units that would have been processed during a period if all effort h
    5·1 answer
  • The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the fi
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!