Answered: Which one of the following is the date…

Which one of the following is the date on which the board of directors agrees to pay a dividend and passes a resolution to do so? Ex-dividend date Payment Date Declaration Date Date of record

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 13MC: The date the board of directors votes to declare and pay a cash dividend is called the: A. date of...

See similar textbooks

Related questions

Q: Given the following information, compute the current ratio Cash $ 120,000 Accounts receivable…

A: Current Ratio - Current Ratio indicates organization liquidity to repay its short-term obligation.…

Q: Shown here are condensed income statements for two different companies (assume no income taxes).…

Q: crease an

A: The shareholders' will be considered as the owners of the company. The bond holders, and debenture…

Q: Toiz-4-Boiz [T-4-B] is a manufacturer of electronic game hardware and game software.The company…

A: Date Account Titles and Explanation Debit Credit Mar. 1, 2018 Share Subscriptions Receivable…

Q: Shrek Inc., had issued subscriptions for common shares on March 1, 2020. 40% of the subscription was…

A: Amount received on first installment (ie, 40% of subscription) = $446,400 Therefore, the total…

Q: Wheaton Tire Inc., [WTI] reported the following excerpts from shareholders’ equity on January 1,…

A: Dividend - Dividend is the amount to be paid by the company out of profit made to the shareholder's…

Q: Ex. 6-3. Factory Overhead Variance - Fixed Budget Approach. For the month of March, Department 1 of…

A: Three variance method includes: Spending variance=Actual overhead - budgeted overhead allowed based…

Q: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the…

A: Common stock is that type of stock which is being issued by the business for the purpose of raising…

Q: Question Content Area Sell at Split-Off or Process Further Decision, Alternatives, Relevant Costs…

A: Sell or process further is decision involves calculating the relevant cost and revenue at split-off…

Q: Averys All-Natural Company supplies wigs and hair care products to beauty salons throughout Texas…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: S11-4 Accounting for a note payable On December 31, 2013, Edgmont purchased $10,000 of merchandise…

A: Perpetual inventory system records and updates the inventory movements in real time.

Q: Generally Accepted Accounting Principles, or GAAP, is a set of accounti procedures, standards, and…

A: GAAP or Generally accepted accounting principles are the standard accounting principles made with…

Q: Presented below is pension information related to Tyre Recycling Inc., for the calendar year 2019.…

A: Pension expense is cost for an employer to maintain employee pension plan. It is the amount of…

Q: Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses…

A: solution concept Budgeting is the processing of forecasting the future revenue and expenditure The…

Q: Teal Mountain Company is negotiating to lease a piece of equipment to MTBA, Inc. MTBA requests that…

A: Computation of Present Value of Residual Value: Guaranteed Residual Value 4000 PV of $1 @6% for…

Q: Which of the following is correct? a. Statement of Cash Flows is reported on a particular date…

A: Solution 10.6: Income statement and statement of cash flows are prepared for a specific period of…

Q: Distinguish among scorekeeping, attention directing, and problem solving. Question content…

A: Score keeping, attention directing, and problem solving are management accounting functions that…

Q: Mary Willis is the advertising manager for Bargain Shoe Store. She is currently working on a major…

A: Contribution margin per unit(At current level) = Selling price per unit - Variable Cost per unit…

Q: The Appliance Store is an experienced home appliance dealer. Appliance Store also offers several…

A: Revenue is the amount of money earned by an entity by selling goods or providing services.

Q: The following information pertains to Fanning Manufacturing Company for March Year 3. Assume actual…

A: Gross Margin=Sales revenues-Cost of goods sold

Q: The company uses LIFO periodic inventory method. Given the following information, what LIFO…

A: In the context of the given question, we should compute the LIFO liquidation profit and after-tax…

Q: Which one of the following is a payment of either cash or shares of stock that is paid out of…

A: Basic Accounting concept

Q: S11-4 Accounting for a note payable On December 31, 2013, Edgmont purchased $10,000 of merchandise…

A: Journal is the book of original entry in which all the financial transactions of the business are…

Q: Most ordinary income from all flow-through entities is NOT considered self-employment income. Select…

A: Self-employment income- Self-employment income is earned from carrying on a "trade or commerce" as a…

Q: IFRS (a) What is included in the measurement of (1) the lease liability and (2) the right-ofuse…

A: International financial reporting standard (IFRS) 16 is the standard for accounting for Lease. This…

Q: Actuary and trustee reports indicate the following changes in the PBO and plan assets of…

A: Particulars Amount (in $ millions) Net loss-AOCI $210 Less : 10% of beginning PBO (10% x…

Q: Youngstown Glass Company manufactures three types of safety plate glass: large, medium, and small.…

A: Unit contribution margin per production bottleneck hour = Contribution margin per unit / Autoclave…

Q: Issued 13,000 shares of stock at par to Paul Glenn for cash. b. (1) Issued 550 shares of stock at…

A: Double Entry system of bookkeeping Under this system one account is debited and other account is…

Q: Wheaton Tire Inc., [WTI] reported the following excerpts from shareholders’ equity on January 1,…

A: The stock dividend does not effect the total shareholders equity of the business as retained…

Q: A major difference between IFRS and GAAP relates to the Revaluation surplus account. Retained…

A: There are various difference among the GAAP and IFRS: GAAP is Rules based whereas IFRS is…

Q: The information pertains to Nue Inc. sales revenue is presented below: February March April Cash…

A: The cash receipts budget is prepared to record the cash collection during the period. The cash…

Q: The managing director of Onyx Garages Ltd is concerned about the profitability of the business. She…

A: Marginal costing- In economics, marginal cost is the change in total cost that occurs when the…

Q: Yesterday, John bought a ten-year, $50,000 coupon bond with an annual rate of 5% compounded…

A: Worth of a bond is the present value of bond. Present value of bond is the present value of all…

Q: The following information pertains to HaffVay Hotels, Inc.'s pension plan for calendar 2019:…

A: Closing PBO = Beg PBO + Service cost+ Interest cost + Service cost - benefits paid = 96000…

Q: Required: 1- According to classifying costs as variable, fixed, and mixed. What is the type of: Your…

A: The Variable cost per unit will remain same irrespective of number of units The Fixed Cost per unit…

Q: Cranbrook Corp., reported pre-tax accounting income of $400,000 for the calendar year 2020. To…

A: Answer: Correct option is d. $73,000

Q: ABC SA. is financed solely by equity. Currently, the company has 20 million shares outstanding.…

A: Comment- Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in…

A: The sales budget is prepared to record the sales revenue during the given period with budgeted sales…

Q: Crane Corporation produces and sells two products, Basic and Super. Data for activity during March…

A: The segment margin income statement indicates the profit earned by each segment. It is useful for…

Q: Q2. The following information was extracted from the Statement of Financial Position of Carman…

A: Basic Earning per share is the measurement, in which we will divide the total profit we earned and…

Q: When determining whether a dwelling unit is treated as a residence or a nonresidence for tax…

A: Rental Property / Personal Use: If you rent to others the dwelling unit you use as a residence, the…

Q: Crane Company sells automatic can openers under a 75-day warranty for defective merchandise. Based…

A: The warranty Expenses are estimated on the basis of past experience for defective units.

Q: surance policy and paid a premium of 50000 annually. He paid tuition fee for his

A: Mr B is the resident senior citizen [60+]of India . For F.Y 20-21 & A.Y 21-22 , there are two…

Q: Given the following information : prepaid expense R72 000, accrues expenses R48 000,accrues income…

A: The trade and other receivables include the balance for amount due from customers, amount due for…

Q: The concrete pavemen requires $15,000 of repair during years 12, 25 and 40. The asphalt pavement…

A: Concept of PWF and LCC

Q: Q10.13 The Audit Log tracks: b. a. Additions to our QBO records Modifications to our QBO records…

A: Introduction:- An audit log is the simplest and most effective forms of tracking information. It…

Q: Use the following information to answer the question. Estimated manufacturing overhead $180,000…

A: Predetermined overhead rate = Estimated manufacturing overhead / Estimated direct labour hours

Q: Under PCAOB standards (AS 3101) approved in 2017, all U.S. public companies will be required to…

A: Audit in general term to check whether the financial health of the company is shown correct or not.…

Q: 2Part B PTI Inc., located in a country which has a capital gains tax, conducted the following…

A: Capital Gain Taxes It is important to calculate the capital gain taxes which are incurred in the…

Q: Lime Co. incurs a $4,000 note with equal principal installment payments due for the next eight…

A: Introduction: Non current liability: The liabilities which are to be paid more than 1 year period of…

Question

Which one of the following is the date on which the board of directors agrees to pay a dividend and passes a resolution to do so?

Ex-dividend date

Payment Date

Declaration Date

Date of record

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction

VIEW

Step 2 Solution

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Which one of the following dates is the date on which the board of directors votes topay a dividend?(a) Record date(b) Declaration date(c) Ex-dividend date(d) Payment date(e) Settlement date
Which of the following dates has the shareholder theoretically realized income from dividend? a. the date the dividend is declaredb. the date of recordc. the date the dividend check is mailed by the entityd. the date the dividend check is received by the shareholders
The date when the board of directors formally announces the distribution of dividends. * Date of record O Date of Declaration O Date of Distribution
Which of the following is entitled to dividends? Total outstanding liability Total authorized shares Total shares issued Total shares issued, net of treasury shares What is the date on which the fair value of the equity instrument granted is measured? Grant date Report date Measurement date Exercise date
The date when the board of directors announces the intention to pay dividends is known as a. dividend dateb. declaration datec. record dated. payment date
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
Share dividends distributed shall be reported as a note to financial statement a reduction in total shareholders' equity an addition to share capital outstanding a current liability
Match each of the following terms with the appropriate definition. A document that gives a designated agent the right to vote a stockholder's shares of stock. The date specified by corporation directors for identifying stockholders to receive dividends. The date on which the directors vote to pay a cash dividend. The ratio of a company's current market value per share to its net income per share. Occurs when a corporation calls in its stock and replaces cach 1. Dividend Yield share with more than one 2. Reverse Stock Split new share; decreases both the market value per share and the par or stated value per share. 3. Convertible Preferred Stock 4. Price-Earnings Ratio Net income less preferred dividends divided by weighted-average 5. Date of Record common shares 6. Proxy outstanding. 7. Stock Split Stock that gives its holders the option to exchange their shares for common shares at a specified rate. 8. Basic Earnings per Share 9. Cumulative Preferred Stock Stock that has a right to be…
Part 1 Which are rights of common stockholders? Check all that apply: The right to a share of dividends paid The right to vote for members of the board of directors The right to vote on major decisions at the annual general meeting The right to receive regular dividends Submit
A corporation declared dividends on December 1 payable on January 15 to shareholders of record of December 30. The balance of Retained Earnings Question options: a decreases on December 30 b decreases on January 15 c is not affected on December 30 d is not affected on December 1
An entity shall adjust the carrying amount of the dividend payable at the end of each reporting period and at the date of settlement with any changes in the carrying amount of the dividend payable recognized as component of other comprehensive income b. directly in retained earnings c. as gain or loss on property dividend d. as adjustment of share premium
Outstanding shares are the a. Number of shares that have been distributed to shareholders b. Total number of shares that can be issued by the corporation at any time c. Number of shares that are owned by shareholders at the balance sheet date d. Number of shares the corporation has repurchased.