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
sineoko [7]
2 years ago
7

Listed below are the transactions that affected the shareholders’ equity of Branch-Rickie Corporation during the period 2018–202

0. At December 31, 2017, the corporation’s accounts included:
($ in thousands)
Common stock, 109 million shares at $1 par $109,000
Paid-in capital—excess of par 654,000
Retained earnings 880,000

1. November 1, 2021, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1.
2. On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $2.4 million, but were purchased two years previously for $2.1 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5.
3. On July 12, 2022, the corporation declared and distributed a 6% common stock dividend (when the market value of the common stock was $16 per share). Cash was paid in lieu of fractional shares representing 540,000 equivalent whole shares.
4. On November 1, 2022, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1.
5. On January 15, 2023, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stock dividend when the market value of the common stock was $17 per share.
6. On November 1, 2023, the board of directors declared a cash dividend of $0.65 per share on its common shares, payable to shareholders of record November 15, to be paid December 1.

Required:
a. Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions.
b. Prepare comparative statements of shareholders’ equity for Branch-Rickie for the three-year period ($ in 000s). Net income was $375 million, $440 million, and $500 million for 2021, 2022, and 2023, respectively.
Business
1 answer:
gulaghasi [49]2 years ago
7 0

Answer:

sry I just wanted the points I'm in middle school so I don't know this stuff either but can you give free brainlyest I'm soo close to my next rank I'd really appreciate it if you would

You might be interested in
How are you guys today?
lianna [129]

Answer:

alright... i guess

Explanation:

(:(

3 0
3 years ago
Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical servic
asambeis [7]

Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical services is:(D.) Inverse

What are free market conditions?

The relationship between  quantity demanded and price normally, where the market forces are left to determine the happenings in the market, is inverse, in that as the quantity demanded increases prices decrease.

In the same vein, the relationship between the quantity of medical services demanded and the price of medical services, is also inverse which means that the amounts charged by doctors for medical treatment reduces, there would be more patients, since the cost is now cheaper which discourages people to seek alternative medicine.

Find out more about demand-price relationship on:brainly.com/question/26264326

#SPJ1

Full question:

Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical services is:

A. Unknown

B. Equal

C. Direct

D. Inverse

3 0
1 year ago
Which of the following best describes the purpose of making an investment
LUCKY_DIMON [66]

Answer:

b.) to use money to make more money

Explanation:

<em>The correct reason for making investments would be </em><em>to use money to make more more money.</em>

<u>A financial investment represents the act of allocating money to a process or an item in order to reap profit or generate income in the short term, the long term, or both. </u>

An investment can be in the form of purchased goods or services that can later be sold at a higher amount. It can also be an item or service that will be yielding immediate income while preserving all or parts of its original value.

The money made on an investment is referred to as gains o returns.

<em>The correct option is </em><em>b</em><em>.</em>

3 0
3 years ago
The fixed budget indicates sales of $50,000. actual sales were $55,000. The variance is?
Anna007 [38]

The fixed budget indicates sales of $50,000. actual sales were $55,000. The variance is $5,000 favorable.

The variance is a measure of variability. it's far calculated by taking the average of squared deviations from the mean. Variance tells you the diploma of unfold in your information set. The more unfold the data, the larger the variance is in relation to the mean.

In opportunity idea and information, variance is the expectation of the squared deviation of a random variable from its populace imply or sample suggest. Variance is a measure of dispersion, that means it's far a degree of the way a long way a fixed of numbers is spread out from their average price.

Not like variety and interquartile range, variance is a measure of dispersion that takes into consideration the unfold of all information points in a data set. It is the degree of dispersion the most often used, in conjunction with the standard deviation, that is truly the rectangular root of the variance.

Learn more about variance here brainly.com/question/15858152

#SPJ4

5 0
1 year ago
Which tab would help you toggle between views?
dmitriy555 [2]

Answer:

Design

Explanation:

5 0
3 years ago
Read 2 more answers
Other questions:
  • Omega locates it global manufacturing in mexico, its global distribution in honduras, and its design in germany. by dispersing d
    13·2 answers
  • Tesco is saving 3 million usd a year alone in landfill taxes by simply sending its used cooking oil and chicken fat to be used t
    11·1 answer
  • For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP
    14·1 answer
  • The Green Company, an accrual basis taxpayer, provides businessconsulting services. Clients generally pay a retainer at the begi
    6·1 answer
  • Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $1,800,000 par value, mature in four years, and pay
    5·1 answer
  • Which of the following statements is true of​ just-in-time (JIT)​ purchasing? A. Only disadvantage of JIT purchasing is the high
    14·1 answer
  • The concept of the diffusion of innovation shows how a product "diffuses" or spreads through the population over time. The consu
    12·1 answer
  • Before prorating the manufacturing overhead costs at the end of 2016, the Cost of Goods Sold and Finished Goods Inventory had ap
    15·1 answer
  • When choosing where to eat lunch, Sharon looks for restaurants where she will be seated promptly and served her meal quickly. Fo
    5·1 answer
  • the narnian stock market had a rate of return of 45% last year, but the inflation rate was 30%. what was the real rate of return
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!