25) A corporation declares a dividend of $0.50 per share on 16,000 shares of common stock.Which of the following is included in the entry to record the declaration? A) Cash Dividends isdebited for $8,000. B) Paid-In Capital in Excess of Par-Common is credited for $8,000. C)Cash Dividends is credited for $8,000. D) Dividends Payable-Common is debited for $8,000. E) none of the above

A dividend is a distribution of a portion of a company's earnings to its shareholders, generally in…

Answered: 25) A corporation declares a dividend…

Principles of Accounting Volume 1

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ISBN:9781947172685

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Chapter14: Corporation Accounting

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Problem 8MC: The total amount of cash and other assets received by a corporation from the stockholders in...

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The total amount of cash and other assets received by a corporation from the stockholders in exchange for the shares is ________. A. always equal to par value B. referred to as retained earnings C. always below its stated value D. referred to as paid-in capital
If a corporation issues 1,000 shares of $1 par value common stock for $12,000, the journalentry would include a credit toa. Common Stock for $1,000.b. Retained Earnings for $1,000.c. Common Stock for $12,000.d. Paid-in Capital in Excess of Par—Common for $12,000.
he charter of a corporation provides for the issuance of 99,542 shares of common stock. Assume that 39,624 shares were originally issued and 3,225 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? a.$3,225 b.$99,542 c.$39,624 d.$72,798
The charter of a corporation provides for the issuance of 108,244 shares of common stock. Assume that 44,779 shares were originally issued and 4,084 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? a. $4,084 b. $44,779 c. $108,244 d. $81,390
The charter of a corporation provides for the issuance of 105,588 shares of common stock. Assume that 41,103 shares were originally issued and $4,863 were subsequentially reacquired. What is the amount of cash dividends to be paid if a $2 per share dividend is declared?
The charter of a corporation provides for the issuance of 95,735 shares of common stock. Assume that 43,241 shares were originally issued and 3,458 were subsequently reacquired. What is the amount of cash dividends to be paid if a $1 per share dividend is declared? Select the correct answer. a-$43,241 b-$95,735 c-$3,458 d-$39,783
If a corporation issues 6,000 shares of $5 par value common stock for $89,000, the journal entry would include a credit to: OA. Common Stock for $59,000. O B. Common Stock for $89,000. C. Paid-in Capital in Excess of Par-Common for $89,000. D. Paid-in Capital in Excess of Par-Common for $59,000. O O O
1.A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12,000 common shares outstanding. The journal entry to record the declaration of the cash dividend is: The journal entry to record the declaration of the cash dividend is: 2.A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12,000 common shares outstanding. The journal entry to record the declaration of the cash dividend is: Multiple Choice Debit Dividend Expense $12,000; credit Common Dividend Payable $12,000. Debit Retained Earnings $12,000; credit Common Dividend Payable $12,000. Debit Common Dividend Payable $12,000; credit Retained Earnings $12,000. Debit Common Dividend Payable $12,000; credit Cash $12,000. Debit Dividend Expense $12,000; credit Cash $12,000.
A corporation has the following account balances: Common Stock, $1 par value, $80,000; Paid-in Capital in Excess of Par Value, $2, 700,000. Based on this information, what is the (A) legal capital (B) number of shares issued (C) number of shares outstanding and (D) average price per share issued
A corporation issues 6,000 shares of $5 par value commonstock for $8 cash per share. The entry to record this transactionincludesa. A debit to Paid-In Capital in Excess of Par Value for$18,000.b. A credit to Common Stock for $48,000.c. A credit to Paid-In Capital in Excess of Par Value for$30,000.d. A credit to Cash for $48,000.e. A credit to Common Stock for $30,000.
All of the following statements pertain to dividends. Which of them is (are) true? a. Shareholders vote each year to declare and set the amount of the dividends to be paid.b. Dividends Payable is a current liability in the statement of financial position of the corporation.c. A 10% dividend on preference share capital means that each shareholder receives a cash dividend equal to 10% of the market value of the stock.d. All of these statements are true.
24. The board of directors of Elston Inc. declared a $0.60 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares authorized, 20,000 shares issued, and 5,000 shares held as treasury stock. What is the entry for the dividend declaration? A. Retained earnings Cash dividends payable B. Retained earnings Cash C. Retained earnings Cash dividends payable D. Retained earnings Cash 9,000 9,000 10,000 10,000 9,000 9,000 10,000 10,000

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