Your friend Cindy bought 100 shares of ABC Inc. stock on January 20th at $12.05 per share. ABC Inc. declared a$0.60 per share dividend on February 24th, with a record date of Friday, March 24th, and a payment date of April15th. Cindy sold her 100 shares on Wednesday March 22nd at a price of $13.80 per share. According to the currentTSX rules, ex-dividend date is one business day prior to the record date, how much would Cindy make on thisinvestment?$115$147$175$235$11713O SearchD

The objective of the question is to calculate the total amount Cindy made from her investment in ABC…

Answered: Your friend Cindy bought 100 shares of…

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

Billingsley United declared a $0.20 a share dividend on Thursday, October 16. The dividend will be paid on Monday, November 10 to shareholders of record on Friday, October 31. What is the ex-dividend date?
sharad
On February 13, Solo Inc. reacquires 50,000 shares of its $1 par value common stock at the current market price of $11. The stock was originally issued for $8. On August 22, Solo reissued the stock for $15. What is the overall effect of the February 13 and August 22 transactions on Solo's financial statements?
2) Andrew bought 10,000 shares of stock B at $2 per share. At the end of the year, he sold all the shares at $2.50 per share. The transactions payable for share transactions in Singapore are: Clearing fee Trading access fee Brokerage commission 0.0325% 0.0075% 0.2800% In addition to the above cost, Andrew has to pay GST of 7% on the total transaction cost (i.e. sum of clearing fee, trading access fee and brokerage commission). Calculate Andrew's profits in dollars and return.
At the start of 20X5, Happy Corp. had 20,000 shares of $5 par common stock issued and outstanding. All 20,000 shares had been issued in the prior year for $20 per share. On February 1, 20X5, Happy repurchased 6,000 shares of its own stock for $12 per share. It plans to reissue these shares at a future time. Question: What journal entry should Happy make to record the February 1, 20X5 transaction? Answer: It should debit for $ and credit + for $
On March 5, Jerald Corporation purchased 7,000 shares of its own common stock for $56,000. On July 17, Jerald Corporation reissued 900 shares of this treasury stock for $6,300. Prepare the March 5 journal entry and the July 17 entry to record the purchase and reissuance of Jerald's treasury stock. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph V Arial 10pt V Ix % 0 as d
On February 15, Jewel Company buys 7,500 shares of Marcelo Corp. at $28.58 per share. The stock is classified as a stock investment with insignificant influence. This is the company's first and only stock investment. On March 15, Marcelo Corp. declares a dividend of $1.20 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $29.36 per share. The fair value of the remaining shares is $29.56 per share. The impact on Jewel's net income as a result of its investment in Marcelo Corp, was a(n): Multiple Choice Increase to income of $15.600 Increase to income of $9,000 Increase to income of $11.925 Decrease to income of $9.000 Decrease to income of $6,075
On January 1, Star Corp sold 10,000 shares of stock at $26 per share. Later in the year, Star Corp acquired all the shares from the market paying $28 per share. Assuming the cost method is used, what is the debit to common stock from this transaction? (Lesson 12.3) (If you do not know this JE. you should review it.) O a.so Ob. $260,000 OC. $20,000 d.$280.000
An investor purchased 100 shares of Mallard common stock at $20 per share on March 15 of Year 1. On December 31 of Year 1, the stock was quoted at $19 per share and Mallard declared and paid a dividend of $1.50 per share. On June 5 of Year 2, the investor sold all 100 shares for $22 per share. On December 31 of each year, the Fair Value Adjustment account is adjusted. Assuming the investment is measured at FV-NI, provide the journal entries to be made at each of the following dates. a. March 15, Year 1. b. December 31, Year 1. c. June 5, Year 2. d. December 31, Year 2. Note: If a journal entry isn't required for the transaction, select "N/A—Debit" and "N/A―Credit" as the account names and leave the Dr. and Cr. answers blank (zero). Date Account Name (a) Mar. 15, Year 1 Investment in Stock Cash (b1) Dec. 31, Year 1 (b2) Dec. 31, Year 1 (c) June 5, Year 2 To record investment purchase. Cash Dividend Revenue To record dividends. Unrealized Gain or Loss-Income Fair Value Adjustment-Equity…
On December 10, Daniel Co. split its stock 5-for-2 when the market value was $65 per share.Prior to the split, Daniel had 200,000 shares of $15 par value stock. After the split, the par valueof the stock was
Warhol Company has 2,000 shares of $0.50 par value common shares authorized. On March 1, Warhol sold 1,550 shares for $10 per share. On May 1 of the same year, Warhol reacquired 550 of those shares for $11 each. Over the next several months, the market price of the shares increased and Warhol Company reissued 150 shares at $15 per shares. By December 1, the company reissued the remaining 400 shares. At that time, the market price of the shares had fallen to $9 per share. What is the entry the company would make on December 1st to record the reissue of 400 shares of treasury stock? Responses Cash 3,600 Capital in Excess of Cost - Treasury Stock 400 Retained Earnings 400 Treasury Stock 4,400 Cash…
Give the necessary Journal Entries to record the following transactions : (a) A shareholder was holding 500 equity shares of $ 10 each of a company issued at 10% discount. He paid $ 2 on application, $ 3 on allotment but could not pay the first call of $ 3 per share and his shares were forfeited by the directors. These shares were reissued subsequently at a price of $ 7 per share. (b) A holds 200 equity shares of $ 10 each on which he paid $ 1 per share as application money. B holds 300 equity shares of $ 10 each on which he has paid $ 1 and $ 3 per share as application and allotment money respectively. Cholds 500 equity shares of $ 10 each on which he has paid $ 1 on application, $ 3 on allotment and $ 2 on first call. They all fail to pay their arrears and the second call of $ 2 per share and the directors, therefore, forfeited the shares. All these shares were reissued subsequently @ $ 11 per share as fully paid.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS