MC Qu. 11-109 Mapleleaf Industrles declared a...Mapleleaf Industries declared a $0.90 per share cash dividend. The company has 140,000 shares authorized, 53,000 shares issued, and 50,000 shares of common stock outstanding. What is the journalentry to record the dividend declaration?Multiple CholceDebit Dividends and credit DMdends Payable for $47,700.Debit DIvidends and credit Dvidends Payable for $45,000.Debit DIvidends Payable and credit Cash for $47700.Debit DIvidends Payable and credit Cash for $126.000.< Prev26 of 30Next >ype here to searchWTrop storm warning11:37 AM8/21/2021DELL...

Answered: Image /qna-images/answer/7627dda2-5dbb-4544-bf6c-7256aba019be.jpg

Mapleleaf Industries declared a $0.90 per share cash dividend. The company has 140.000 shares authorized, 53.000 shares issued, and 50,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration? Multiple Choice Debit Dividends and credit DMdends Payable for $47700. Debit Dividends and credit Dividends Payable for $45,000. Debit Dividends Payable and credit Cash for $47700 Debit Dividends Payable and credit Cash for $126,000.

Mapleleaf Industries declared a $0.90 per share cash dividend. The company has 140.000 shares authorized, 53.000 shares issued, and 50,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration? Multiple Choice Debit Dividends and credit DMdends Payable for $47700. Debit Dividends and credit Dividends Payable for $45,000. Debit Dividends Payable and credit Cash for $47700 Debit Dividends Payable and credit Cash for $126,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please help me
Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 1,400,000 shares issued; Additional Paid-in Capital, $17.40 million; Retained Earnings, $10.40 million; and Treasury Stock, 54,000 shares, $1.188 million. Prepare the stockholders' equity section of the balance sheet. (Amounts to be deducted should be indicated by a minus sign. Enter your answer in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) SUMMIT APPAREL Balance Sheet (Stockholders' Equity Section) December 31 Stockholders' equity: Total Paid-in Capital Total Stockholders' Equity
oo.17. Subject :- Account
5. Magenta Corporation declared $0.70 per share cash dividends on September 18. The dividends were recorded and paid on September 23 and September 29, respectively. Magenta Corporation had 50,000 shares outstanding with par value of $1. The journal entry to record the transaction on September 29 is … a. Cash Dividends $35,000 Dividends Payable $35,000 b. No journal entry required on this date c. Retained Earnings $50,000 Cash Dividends $50,000 d. Dividends Payable $35,000 Cash $35,000
XYZ Company has 100,000 shares of stock outstanding. On January 1, 200X XYZ Company declared a cash dividend of .50 per share to be paid on January 31. On January 1 XYZ Company will make the following journal entry: Credit cash $50,000and debit dividends declared $50,000. Debit dividends declared $50,000 and credit dividends payable $50,000. No entry is made until January 31. Debit cash $50,000 and credit dividends payable $50,000.
Can anyone please help me with this? Question in picture.
On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 74,600 shares of $10 par common stock at $12, and on November 19, it issued for cash 15,640 shares of preferred stock, $40 par at $56. Required: A. Journalize the entries for October 31 and November 19. Refer to the Chart of Accounts for exact wording of account titles. B. What is the total amount invested (total paid-in capital) by all stockholders as of November 19? CHART OF ACCOUNTSLegacy Rocks Inc.General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 312 Paid-In…
These account balances at December 31 relate to Sportplace Inc.: Accounts Payable..... $ 51,400 Preferred Shares, $0.01, Accounts Receivable. Common Shares Bonds Payable... 81,150 860,000 shares issued 595,000 Retained Earnings 86,000 71,500 3,100 Notes Receivable 12,600 If the average issue price of Sportplace's outstanding common shares is $11.90, how many common shares are issued and outstanding? OA. 50,000 OB. 595,000 O c. 100,000 OD. Unknown Next
Please do not give solution in image format ?
On July 3, the Southside Company declared a cash dividend of $0.75 per share. There are 45,000 shares outstanding. What is the journal entry that should be recorded?
A company reports the following: Net income $420,200 Preferred dividends $31,130 Shares of common stock outstanding 33,000 Market price per share of common stock $34.19 Calculate the company's earnings per share on common stock. Round your answer to the nearest cent.
Subject :- Accounting