he board of directors of Yancey Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock on July 15, 20X1. The dividend is to be paid on August 15, 20X1, to stockholders of record on July 31, 20X1. The correct entry to be recorded on August 15, 20X1, would be a. Dividends Payable 63,000 Cash 63,000 b. Cash Dividends 63,000 Cash 63,000 c. Cash 63,000 Paid-in Capital 63,000 d. Dividends Payable 63,000 Paid-in Capital 63,000

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A: A dividend is the distribution of some of a company's earnings to a class of its shareholders, as…

Q: Wildhorse Corporation has 12.00 million shares of common stock issued and outstanding. On June 1,…

A: On june ,all majority of BOD approves dividend, so dividend is payable.

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A: When dividend is issued to stockholders in form of additional stock instead of Cash, then such…

Q: Greenwood Corporation has 80,000 shares of common stock outstanding. It declares a $1 per share cash…

A: Cash dividends are cash distributions of accumulated earnings by a corporation to its stockholders.…

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A: Journal entry: It is defined as the recording of company's day to day transactions of monetary…

Q: On November 12th, Nutritious Pet Food Company’s board of directors declares a cash dividend of $1.00…

A: Total Outstanding shares = 12,000 Held as treasury share = 2,000 Cash dividend is given total share…

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A: The preference shareholders get the dividend before any other dividend to other shareholders. The…

Q: On June 1, a board of directors declared a $3 per share cash dividend, payable on June 30 to all…

A: Total amount of dividend = No. of shares issued and outstanding x dividend per sahre = (1000 shares…

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A: Here in this case, we are required to make journal entry for issue if share. Company issue shares to…

Q: On July 31, a company declared a cash dividend of SR0.25 per common share to the shareholders of…

A: Dividend is described as that amount which is paid by the corporation on the shares outstanding. It…

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A: The corporation has different options for collecting resources for the business. It includes the…

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A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Desert Apparel has 6,000 shares of common stock outstanding. On April 1, the company declares a $2…

A: Given, Number of stocks outstanding = 6,000 Dividend declared = $2

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A: Net income = Sales - expense           = 69,000 - 46,230           = 22,770   Retained earnings =…

Q: A company has the following transactions during the year related to stockholders’ equity.…

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Q: A company's board of directors declared a $0.50 per share cash dividend on its $3 par common stock.…

A: Number of shares=Issued shares-Treasury stock=18,000-5,000=13,000

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A: Tje dividend is paid to shareholders from the retained earnings of the business.

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A: Dividend represents the distribution of profit amongs the shareholders of the company. It becomes…

Q: A company has an authorized capital of 10,000 common shares of $10 par value and 7,500 common shares…

A: Journal entry: An act of recording the daily transaction of a firm in the journal is called journal…

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A: Given that  Cash dividend = $ 1.00 per share  Common shares outstanding = 12000

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A: Amount of dividend = No. of shares x dividend per share = 4,000 shares x $0.75 per share = $3,000

Q: Assume that the Board of Directors of ABC Corporation meets on April 1 and declares a dividend of…

A: Assume that the Board of Directors of ABC Corporation meets on April 1 and declares a dividend of…

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A: Step 1 The journal entry is recorded for the declaration of dividend under which retained earnings…

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Q: Journalize the entries needed on the declaration and payment dates.

A: Journal entry:   It is a systematic record of a financial transaction of an organization recorded in…

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A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

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Q: Crane Corporation has 70,000 shares of common stock outstanding. It declares a $1 per share cash…

A:

Q: Nowell Inc. had the following stock issued and outstanding at January 1, Year 2. 1. 150,000 shares…

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A: Note: Dividend is issued on shares issued and outstanding.

Q: Nutritious Pet Food Company’s board of directors declares a cash dividend of $1.00 per common share…

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A: Date  Account Tittle and explanation   Debit  Credit          12-Nov  Retained…

Q: Show the effects of each transaction on the accounting equation. Give the indicated journal entries…

A: 1.

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Q: D Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 600…

A: Answer

Q: Crane Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 600…

A: The financial transactions are initially recorded in the form of journal entry.

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A: According to the given question, we are required to compute the cash dividends distributed to the…

Q: A company's board of directors votes to declare a cash dividend of $1.15 per share of common stock.…

A: Cash dividends:The amount of cash provided by a corporation out of its distributable profits to its…

Q: Nutritious Pet Food Company’s board of directors declares a cash dividend of $1.00 per common share…

A: The journal entries are prepared to keep the record of day to day transactions of the business.