8. On August 1, Hagino Corporation declared a $1.50 per share cash dividend on its common stock (20,000 shares) for stockholders on record as of August 15. Hagino Corporation paid the dividend on August 31. Journalize the entriesdeclaring the cash dividend and paying the dividend. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)Journalize the entry declaring the cash dividend.DateAug. 1Accounts and ExplanationDebitCredit

Cash dividend : It is the portion of retained earnings which the company gives to the stockholders…

Answered: 8. On August 1, Hagino Corporation…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The dates of importance in connection with a cash dividend of $64,000 on a corporation's common stock are January 15, February 15, and March 15. Journalize the entries required on each date. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 15 Feb. 15 Mar. 15 8
The declaration, record, and payment dates in connection with a cash dividend of $49,500 on a corporation's common stock are July 9, August 31, and October 1. Journalize the entries required on each date. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. July 9 Cash Dividends fill in the blank 2 fill in the blank 3 Cash Dividends Payable fill in the blank 5 fill in the blank 6 Aug. 31 No Entry Required fill in the blank 8 fill in the blank 9 No Entry Required fill in the blank 11 fill in the blank 12 Oct. 1 Cash Dividends Payable fill in the blank 14 fill in the blank 15 Cash fill in the blank 17 fill in the blank 18
On May 1, Year 1, Love Corporation declared a $51,000 cash dividend to be paid on May 31 to shareholders of record on May 15. Required a. Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model. b. Prepare journal entries for all events associated with the dividend. Complete this question by entering your answers in the tabs below. Required A Required B Record the events occurring on May 1, May 15, and May 31 in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an op (OA), investing activity (IA), or financing activity (FA). Leave blank to indicate that an element was not affected by the event. Enter amounts to be deducted and cash out minus sign.) Date May 01 May 15 May 31 Assets II || || || Balance Sheet Liabilities + + + Common Stock LOVE CORPORATION Horizontal Statements Model + + + Retained Earnings Revenue Required A Income Statement I I Expenses II = Net Income Required B > Statement of Cash…
Prepare journal entries for each of the following transactions of Telecommunications, Inc. Apr. 15 Declared a dividend of $1.43 per share on 11,000 shares of preferred stock outstanding. May 19 Paid the dividend declared on April 15.
On March 15, American eagle declares a quarterly cash dividend of $0.035 per-share payable on April 13 to all stockholders of record on March 30. Record American Eagle‘s declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a transaction/event, select “ no journal entry required” in the first account field enter your answer in dollars not in millions)
The units of an item available for sale during the year were as follows: Jan. 1 Inventory 14 units at $30 $420 Aug. 13 Purchase 11 units at $33 363 Nov. 30 Purchase 17 units at $35 595 Available for sale 42 units $1,378 There are 21 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar).
Please answer question correctly
On August 17, a company declared cash dividends of $35,000. The dividends were paid on September 16. Journal entries are made to record both events. Which ONE of the following should be included in the journal entry necessary to record the DECLARATION of the dividends on August 17? DEBIT Cash for $35,000 • DEBIT Dividends (or Retained Earnings) for $35,000 . DEBIT Common Stock at Par for $35,000 • DEBIT Dividends Payable for $35,000
A company declares a cash dividend of $50,000 on November 5th and records the stockholders on December 1st. The dividends were paid on Jan 5th. Prepare the journal entries related to these dividend transactions.
Prepare journal entries to record the following transactions for Emerson Corporation. July 15 Declared a cash dividend payable to common stockholders of $160,000. August 15 Date of record is August 15 for the cash dividend declared on July 15. August 31 Paid the dividend declared on July 15.
On May 10, Blue Spruce Corporation issues 3,050 shares of $10 par value common stock for cash at $20 per share. Journalize the issuance of the stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation May 10 Debit Credit
The dates of importance in connection with a cash dividend of $143,000 on a corporation's common stock are January 15, February 15, and March 15. Journalize the entries required on each date using the chart of accounts below. If no entry is required, enter "No Entry Required" and leave the amount boxes blank. Cash Cash Dividends Cash Dividends Payable No Entry Required Stock Dividends Stock Dividends Payable Common Stock Enter your answers into the table below. Key the account names carefully (exactly as shown above) and follow formatting instructions below. DO NOT USE A DECIMAL WITH ZEROES FOR WHOLE DOLLAR AMOUNTS AND USE COMMAS APPROPRIATELY. WHEN THE DEBIT/CREDIT DOES NOT REQUIRE AN ENTRY, LEAVE IT BLANK. Date Account Debit Credit Jan. 15 Feb. 15 I For Blank 9 Mar. 15 THIS OUESTION WILL ALSO BE CHECKED MANUALLY (to make adiustments for tvpos).

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