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
Andrew [12]
4 years ago
12

To reduce its stock price, Shriver Food Systems, Inc., declared and issued a 100 percent stock dividend. The company has 860,000

shares authorized and 260,000 shares outstanding. The par value of the stock is $1 per share and the market value is $100 per share. Prepare the journal entry to record this large stock dividend. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Business
1 answer:
harkovskaia [24]4 years ago
6 0

Answer:

Dr. Retained Earning                    $86,000,000

Cr. Common Stock                       $860,000

Cr. Paid-in-Capital excess of par $85,140,000

Explanation:

Stock dividend is the payment of dividend to stockholder in the form of stock/shares of the company. Stock are issued at the market price and the value of the dividend is transferred from the retained earning to the add-in-capital accounts.

Dividend Value = 860,000 x 100 = $86,000,000

Par Value of Stocks = $1 x 860,000 = $860,000

Add-in-capital excess of par common stock = ($100-$1) x 860,000 = $85,140,000

You might be interested in
Is it 50 hours in a day ?
Orlov [11]

50*7=350 days.

Succesfull!

3 0
3 years ago
Read 2 more answers
Question 6 you are part of a group making a decision about whether it is appropriate to discontinue research on a new drug. this
Mila [183]

Such a person would be making an intuitive decision.

8 0
3 years ago
Solve for the missing amounts in the T-account given below. Assume that there is only one debit entry and one credit entry in th
serg [7]

Answer:

Payment to suppliers was $ 17,100

Credit sales was $37,200

Explanation:

Please refer to the attached for working.

8 0
3 years ago
Worth 20 points:)
dexar [7]

The act that created a “pay-as-you-go” system that requires Congress to raise enough revenue to cover increases in direct spending

B. the 1990 Budget Enforcement Act

Question2 Every hour, the federal government spends about

B. $250 thousand

Explanation:

The act came as a response to the impending recession the western markets in the 1990 fiscal year which was to hit USA particularly hard. This came as a result of and in contrast with many conservative measures taken by the President George W Bush Sr up until that point.

The president had been saying till then that  the opposition and the population could read his lips that there will not be new taxes.

It did happen though as this law allowed the government to increase taxation rates to cover governmental spending.

4 0
3 years ago
Read 2 more answers
THIS IS WORTH 100 POINTS-GIVE ME A GOOD ANSWER AND I WILL MARK YOU AS BRAINLEST Create a company, including the creation of a pr
vesna_86 [32]

Some of the steps in creating a company include:

  • Selecting a unique name.
  • Making a financial plan and creation of a budget.
  • Creation of vision and mission statement.
  • Registration of the company with the government.

The advertising for the company would have to target an audience based on either demographics or income range or on the type of jobs they do that would require them to use your product.

The use of a marketing mix which includes the price, promotion, place, product, and people would be to make the best pricing available and also be in a strategic location, meeting the demand of people's needs.

<h3>What is Advertising?</h3>

This refers to the creation of public awareness for a particular brand of products or services to get them to buy.

Read more about advertising here:
brainly.com/question/25528284

7 0
2 years ago
Other questions:
  • Firm X is being acquired by Firm Y for $35,000 worth of Firm Y stock. The incremental value of the acquisition is $2,500. Firm X
    10·1 answer
  • Terry Fleming is the owner and operator of Go-For-It LLC, a motivational consulting An organization in which basic resources (in
    11·1 answer
  • All of the following bacteria can cause foodborne illness except ?
    6·1 answer
  • You'll find the "circle of fifths" chord progression used in which of the following types of music. a classical. b big band jazz
    6·1 answer
  • What are the four qualities of good leadership?
    13·2 answers
  • On April 1, the price of gas at Bob’s Corner Station was $3.80 per gallon. On May 1, the price was $4.30 per gallon. On June 1,
    10·1 answer
  • A firm must choose among three alternative ways to compensate its salaried employees. It can pay them at the end of each week, a
    11·1 answer
  • The Levi Company issued $90,000 of 6% bonds on January 1 of the current year at face value. The bonds pay interest semiannually
    13·1 answer
  • The _______ system gives both producers and consumers important information they use in making decisions about how to allocate t
    12·2 answers
  • Assume that you invest 5 percent of your salary and receive the full 5 percent match from East Coast Yachts. What EAR do you ear
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!