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iogann1982 [59]
3 years ago
7

Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,000 shares of GE common stock that Adams

had purchased in February for $37,000 as an investment. GE’s shares had a market value of $35 per share on the declaration date. Prepare the journal entries to record the property dividend on the declaration and payment dates.
Business
1 answer:
Nostrana [21]3 years ago
8 0

Answer:

      General Journal                  Debit        Credit

1.     Loss on investment            $2,000

       [$37,000 - (1000 * $35)]    

              Investment in GE stock                $1,600

2.     Retained earnings             $35,000

        (1000 * $35)

             Property dividends payable          $35,000

3.     Property dividends payable $35,000

              Investment in GE stock                 $35,000

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3 years ago
Chad, who owns the only coffee shop in Rivercity, learns that Jose is about to open a competing coffee shop in the same small to
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Answer:

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Moreover, the offer by Chad is an antitrust and anti-competition consideration that is legally frowned upon. illegal contract

Explanation:

For a contract to be enforceable, it cannot be illegal.  A bribe is illegal.  The basis for the contract is illegal.  Therefore, Chad cannot sue Jose.  Since Jose decided to breach the contract, neither Chad nor Jose is entitled to any compensation.  Jose cannot be held liable for non-performance.

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____ focuses on the productivity of the individual worker; the _____ approach focuses on the total organization.
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7 0
2 years ago
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