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____ [38]
3 years ago
10

declared a $0.70 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares author

ized, 14,000 shares issued, and 5,600 shares held as treasury stock. What is the entry for the dividend declaration
Business
1 answer:
Tamiku [17]3 years ago
3 0

Answer:

Debit Retained Earnings $5,880; credit Common Dividends Payable $5,880.

Explanation:

Based on the information given the appropriate

Journal entry for the dividend declaration will be:

Debit Retained Earnings $5,880

Credit Common Dividends Payable $5,880.

(To record dividend declaration)

$0.70 * (14,000 shares - 5600 shares)

= $0.70*8,400

=$5,880

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2. Earl Broker is 25 years old, senior in college and he decides to put $150 every year in a Roth IRA through Vanguard Total
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Answer: a) $66,388.86

the total sum Earl will receive when he withdraws the money in his  65th birthday is $66,388.86

Explanation:

Given that;

Annuity = $150

r = 10%

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which mean Period N = ( 65 - 25 ) = 40

To find the future value, we use use the express

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