These account balances at December 31 relate to Sportring Inc.:Accounts Payable...$51,200 Preferred Shares, $0.01,Accounts Receivable82,050 840,000 shares issuedCommon Shares..594,000 Retained Earnings. .Bonds Payable3,700 Notes ReceivableIf the board of directors declare a dividend of $22,000 on December 31, how much of this total would the common shareholders receive? No otherdividends have been declared during the year.84,00071,40012,900

There are two types of shareholders in a company. Preference share holders have preference in…

Answered: These account balances at December 31…

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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Nutritious Pet Food Company’s board of directors declares a cash dividend of $1.00 per common share on November 12. On this date, the company has issued 11,000 shares but 2,200 shares are held as treasury shares. What is the journal entry to record the declaration of this dividend? If an amount box does not require an entry, leave it blank. Nov. 12
Nutritious Pet Food Company's board of directors declares a cash dividend of $1.00 per common share on November 12. On this date, the company has issued 8,000 shares but 1,900 shares are held as treasury shares. What is the journal entry to record the declaration of this dividend? If an amount box does not require an entry, leave it blank. Nov. 12
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The charter of a corporation provides for the issuance of 95,662 shares of common stock. Assume that 37,907 shares were originally issued and 3,885 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2 per share dividend is declared? a.$68,044 b.$3,885 c.$95,662 d.$37,907
The charter of a corporation provides for the issuance of 114,964 shares of common stock. Assume that 44,309 shares were originally issued and 3,848 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared?
25 )
The charter of a corporation provides for the issuance of 116,962 shares of common stock. Assume that 44,382 shares were originally issued and 3,124 were subsequently reacquired. What is the amount of cash dividends to be paid if a $3 per share dividend is declared? Oa. $123,774 Ob. $9,372 Oc. $133,146 Od. $350,886
Bonita Corporation has 86,000 shares of common stock outstanding. It dedares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"
The Vermillion Corporation has 116,600 $2.0 noncumulative preferred shares that have been issued. It declares a quarterly cash dividend on May 15 to shareholders of record on June 10. The dividend is paid on June 30. Prepare the entries on the appropriate dates to record the cash dividend. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit May 15 June 10 June 30 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer
Agri Gold Ltd. began operations on January 1, 1983 by issuing 54,000 common shares at $13 per share and 26,000 $8 cumulative preferred shares at $20 per share. During 1983 Agri Gold Ltd issued an additional 8,000 common shares at $11 per share and 2,000 preferred shares at $30 per share. 2019 profit was $355,000 and the Board declared $81,000 in dividends. Required: Prepare the Shareholders' Equity section of Agri Gold Ltds Balance Sheet at December 31, 1983.
Nutritious Pet Food Company’s board of directors declares a cash dividend of $1.00 per common share on November 12. On this date, the company has issued 12,000 shares but 2,000 shares are held as treasury shares. What is the journal entry to record the declaration of this dividend? The company pays the dividend on December 14. What is the journal entry to record the payment of the dividend?

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