Savita Swifty Corporation has the following shareholders' equity on September 30, 2024:Shareholders' equityShare capital$10 preferred shares, cumulative10,000 shares authorized, 4500 shares issuedCommon shares,200,000 shares authorized, 10000 shares issuedTotal share capitalRetained earningsTotal shareholders' equity$45000002000004700000563000$5263000 Retained earningsTotal shareholders' equityOn September 15, 2024, Swifty Corporation declared a $167000 dividend to be paid on October 15 to shareholders of record onSeptember 30, Assuming that the preferred dividends were last paid in 2022, the amount of dividends per common share for 2024would beO $17.O $10.563000$5263000$7.70.O $0.10.

Dividend is the amount which is paid as return to the shareholders of the entity. It is paid out of…

Answered: Swifty Corporation has the following…

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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Use the following accounts; Cash Foreign exchange gain Foreign exchange loss Capital Bank Short-term investments Loss on sale of short-term investment Gain on sale of short-term investment RA established his own company, r@ktas Co. The following transactions are the events that occurred during December 2018, the company's first month: Date 12/1 The owner invested $ 200,000 cash for capital. 12/5 r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro (Exchange rate was 1 Euro= 1,5 Dollar) 12/10 The Company purchased short-term investment with cash for $2,500. 12/18 The Company sold short-term investment with cash for $2.000 Note: • Exchange rate was 1 Euro= 1,4 Dollar at the end of the period. Requirements: 1- Give the journal entry for each transaction. 2- Post each transaction to Taccounts.
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