Cash dividends: The amount of cash provided by a corporation out of its distributable profits to its shareholders as a return for the amount invested by them is referred as cash dividends.
Declaration date: The date on which the board of directors of a corporation announces officially to distribute the dividends to its shareholders is referred as declaration date.
Date of record: The date on which the company verifies the ownership of shares of the shareholders entitled to receive the dividends declared, is referred as date of record. No entry is recorded on this date.
Payment date: The date on which the company makes payments for the cash dividends declared to its shareholders is referred as payment date.
To prepare: the
To prepare: the journal entry for the payment of cash dividend of Corporation B.
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Chapter 11 Solutions
Financial Accounting: Tools for Business Decision Making, 8th Edition
- financial accountingarrow_forwardSuppose Boyson Corporation's projected free cash flow for next year is FCF1 = $150,000, and FCF is expected to grow at a constant rate of 6.5%. If the company's weighted average cost of capital is 11.5%, what is the firm's total corporate value? a. $3,150,000 b. $2,850,000 c. $2,707,500 d. $2,572,125 e. $3,000,000arrow_forwardSolve this accounting problemarrow_forward
- Need answerarrow_forwardKim Manufacturing has a net profit margin of 6.2% on sales of $62.4 million. It has a book value of equity of $45.8 million and total book liabilities of $38.6 million. What is Kim Manufacturing's Return on Equity (ROE) and Return on Assets (ROA)?arrow_forwardNeed step by step answerarrow_forward
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