The declaration, record, and payment dates in connection with a cash dividend of $516,000 on a corporation's common stock are February 28, April 1, and May 15. Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.

When a corporation pays dividends, the three relevant dates for dividends occur in this order: a. date of record, date of declaration, date of paymentb. date of payment, date of declaration, date of recordc. date of declaration, date of payment, date of recordd. date of declaration, date of record, date of payment

American Laser, Inc., reported the following account balances on January 1. Accounts Receivable Accumulated Depreciation. Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings. Cash Common Stock, 10,000 shares of $1 part Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS Requirement View transaction list General Journal

es C11-1 (Algo) Financial Reporting of Depreciation, Write-off, Bond Issuance and Common Stock Issuance, Purchase, Reissuance, and Cash Dividends [Chapters 4, 8, 9, 10, and 11) [LO 4-2, 4-5, 8-2, 9-3, 10-3, 11-2, 11-3] Bender Industries, reported the following account balances on January 1. Credit Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock, 10,000 shares of $1 par Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS Debit $ 5,000 249,000 10,500 0 $ 264,500 30,000 92,000 2,000 0 10,000 10,500 120,000 The company entered into the following transactions during the year. January 15 Issued 6,000 shares of $1 par common stock for $52,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,020 shares of $1 par common stock into treasury for $33,220 $ 264,500 cash. March 15 Reissued 2,020 shares of treasury stock for $24,220 cash. August 15…

The following accounts and corresponding balances were drawn from Dexter Company's Year 2 and Year 1 year-end balance sheets. Account Title Bonds payable Common stock Year 2 $216,800 375,100 Year 1 $300,200 283,500 Other information drawn from the accounting records: 1. Dividends paid during the period amounted to $43,500. 2. There were no bond liabilities issued during the period. Required a. Compute the amount of cash flow associated with the repayment of bond liabilities. b. Compute the amount of cash flow associated with the issue of common stock. c. Prepare the financing activities section of the statement of cash flows. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the amount of cash flow associated with the repayment of bond liabilities. Cash flow for the repayment of bond liabilities 13

Accounting A company purchases corporate bonds for $1,000,000 and categorizes them as AFS. At year-end, their market value is $750,000. $100,000 of the decline in value is attributed to a rise in market interest rates, and $150,000 of the decline is attributed to credit losses. Prepare the year-end adjusting entry in either a T-account or spreadsheet format. See above for location of spreadsheet template. A company invests in stock of other companies for trading purposes. Its accounting year ends December 31. Its investment activity during 2019, 2020, and 2021 is as follows: a. Purchased stock of Acme Company in 2019 for $250,000 for the purpose of taking advantage of short-term volatility in the market place. b. Sold the investment shortly after purchase for $235,000. c. Purchased stock of Beeber Company in 2019 for $300,000. d. The investment had a fair value of $275,000 at the end of 2019. e. It was sold for $310,000 in late 2020. f. Purchased stock of Cromwell Company in 2019 for…

The December 31, Year 4, balance sheet for Finch Corporation is presented here. These are the only accounts on Finch's balance sheet. Amounts indicated by question marks (?) can be calculated using the following additional information: Assets Cash FINCH CORPORATION Balance Sheet As of December 31, Year 4 Accounts receivable (net) Inventory Property, plant, and equipment (net) Liabilities and Stockholders' Equity Accounts payable (trade) Income taxes payable (current) Long-term debt Common stock Retained earnings Additional Information Current ratio (at year end) Total liabilities + Total stockholders' equity Gross margin percentage $35,000 a. Accounts payable b. Retained earnings Inventory C. 292,000 $442,000 $ ? P $ P 35,000 298,000 Inventory turnover (Cost of goods sold + Ending inventory) Gross margin for Year 4 12 1.6 to 1.0 70% 40% 9.6 times Required a. Compute the balance in trade accounts payable as of December 31, Year 4. b. Compute the balance in retained earnings as of…

Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 29,387 58,429 $ 29,125 40,023 66,638 $ 23,920 69,328 88,056 7,860 224,536 $ 413,700 7,564 282,628 $ 356,638 81,206 162,500 54,468 $101,981 76,998 $ 58,464 162,500 72,221 $ 413,780 $ 356,638 For both the current year and one year ago, compute the following ratios: 43,855 3,236 184,761 $ 300,200 $ 38,438 64,354 162,580 34,988 $ 300,200 Exercise 17-6 (Algo) Common-size percents LO P2 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three…

The following journal entries are found in a corporation's ledger: 11/15/17 Cash dividends 44,500 Cash dividends payable 44,500 1/15/18 Cash dividends payable 44,500 Cash 44,500 Which of the following statements is true? Select one: a. The date of record is 11/15/17. b. The date of payment is 11/15/17. c. The declaration date is 12/31/17. d. The date of payment is 1/15/18.

You are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $450,000; accounts receivable = $1,100,000; inventory = $2,000,000; accrued wages and taxes = $450,000; accounts payable = $750,000; and notes payable = $500,000. Calculate SophieLex's current ratio.