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frozen [14]
3 years ago
8

Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2018, the company's board of di

rectors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20, 2019 to the stockholders of record on January 15, 2019. The market price of the company's stock is $10 per share on December 31, 2018.
Required:
Write down the necessary journal entry to record the declaration of the stock dividend.
Business
1 answer:
Gnom [1K]3 years ago
6 0

Answer:

<u>December 31, 2018</u>

Debit : Dividend $40,000

Credit : Shareholders for dividends $40,000

Explanation:

When dividends are declared, we Debit an Equity Element - Dividend and Credit the Liability - Shareholders for dividends.

Calculation of this dividend is made on the stockholders in existence at the on a stated date (January 15 in this case) and at par value ($2) as follows :

Dividend = 100,000 x $2.00 x $0.20 = $40,000

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The file manager is a user . is an example of a file manager in Microsoft Windows.
Gnoma [55]

Answer:

Windows Explorer is known as file manager in the MS Windows. Explanation: File Explorer is previously known as the Windows Explorer that is the file manager application which is included with the releases of Microsoft Windows OS(Operating System) from the Windows 95.

if my answer helps you than mark me as brainliest

3 0
3 years ago
Who will be taxed in Transnet​
icang [17]

The South African Mining Industry is very crucial to it's economy. Transnet is one of it's major players. Given that it had a set budget for the 2021/22 financial year, much of which was supposed to be financed by the mining sector, unfortunately, the sector delivered a shortfall.

If Transnet had performed on its nameplate capacity of 78 million tons rather than the 58 million tons delivered in 2021, the industry would have gained R32 billion in revenue. The sector lost R16 billion in sales by failing to meet its objective of 68 million tons.

Because of the above shortfall, assuming current market prices, more than a third of the R140 billion in tax scheduled to be paid from all South African mining firms.

<h3>Who is Transnet?</h3>

Transnet SOC Ltd is a significant South African rail, port, and pipeline corporation located in Johannesburg's Carlton Centre.

It was established as a limited business on April 1, 1990. The South African government's Department of Public Enterprises, or DPE, owns the majority of the company's equity.

Learn more about South African Mining:
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6 0
2 years ago
Michigan Bank lends Detroit Furniture Company $110,000 on December 1. Detroit Furniture Company signs a $110,000, 9%, 4-month no
frez [133]

Answer:

The answer is $3,300.

Explanation:

To calculate interest paid on an amount, the following formula is used:

Simple interest = Principal × Rate × Time

Principal = $110,000

Rate in decimal = 9% = 0.09

Time in years = 4 months = 4/12 years

∴ Simple interest = $110,000 × 0.09 × 4/12 = $3,300.

7 0
3 years ago
"when a tourist buys a sand dollar at a beach shop, what are they buying?"
pogonyaev
They are buying a souvenir.
3 0
3 years ago
Suppose Mr. Lane just bought a share of BlueWind Co., a renewable energy startup. BlueWind promises to pay Mr. Lane $18 in divid
aniked [119]

Answer:

The present value of the cash payment is $20

Explanation:

The present value of cash payment receivable by Mr Lane in one year's time is the today's equivalent amount of the dividend of $18 as well as the liquidation value of $3.

The present value is the total cash inflows multiplied by the discount factor

discount factor=1/(1+r)^n

where is the rate of time preference of 5%'

n is 1 i.e in one year's time

total cash inflows=$18+$3=$21

discount factor =1/(1+5%)^1=0.95238

present value of cash payment=0.95238*$21=$20

4 0
3 years ago
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