
Concept Introduction:
Stock Dividend:
The Stock dividend is the number of shares given as dividend to the shareholders. The Stock dividend is declared first and shares are issued later. There are two
Small Stock Dividend:
The Stock Dividend below 25% is called a small stock dividend. To record the declaration of small stock dividends, the
To prepare: The

Want to see the full answer?
Check out a sample textbook solution
Chapter 13 Solutions
Loose Leaf for Fundamental Accounting Principles
- Need answerarrow_forwardQuestion: Mr. R bought a machine for Rs 25,000 on which he spent Rs 5,000 for carriage and freight; Rs 1,000 for brokerage of the middleman; Rs 3,500 for installation and Rs 500 for an iron pad. The machine is depreciated @ 10% every year on a written down basis. After three years the machine was sold to Mr. B for Rs 30,500 and Rs 500 was paid as commission to the broker. Find out the profit or loss on the sale of the machine. No wrong answerarrow_forwardOn January 1, Trump Financial Services lends a corporate client $180,000 at an 8% interest rate. The amount of interest revenue that should be recorded for the quarter ending March 31 equals:arrow_forward
- RDX Corporation's production budget for September is 22,000 units and includes the following component unit costs: direct materials, $7.50; direct labor, $12.00; variable overhead, $6.20. Budgeted fixed overhead is $55,000. Actual production in September was 23,400 units, actual unit component costs incurred during September include direct materials, $8.10; direct labor, $11.80; variable overhead, $6.50. Actual fixed overhead was $57,000, the standard fixed overhead application rate per unit consists of $2.50 per machine hour and each unit is allowed a standard of 1.2 hours of machine time. Calculate the fixed overhead budget variance.arrow_forwardRIO is a retailer of smart televisions. Typically, the company purchases atelevision for $1,200 and sells it for $1,500. What is the gross profit margin on this television? Correct Answerarrow_forwardSuppose Harbor view Hotel has annual fixed costs applicable to its rooms of $2.5 million for its 350-room hotel. Average daily room rents are $60 per room, and average variable costs are $15 for each room rented. It operates 365 days per year. If the hotel is completely full throughout the year, what is the net income for one year? Don't Use Aiarrow_forward
- Hi experts please answer the financial accounting questionarrow_forwardRIO is a retailer of smart televisions. Typically, the company purchases atelevision for $1,200 and sells it for $1,500. What is the gross profit margin on this television?arrow_forwardThe CV Company has just purchased $75,000,000 of plant and equipment that has an estimated useful life of 20 years. The expected salvage value at the end of 20 years is $7,500,000. What will the book value of this purchase (excluding all other plant and equipment) be after its fifth year of use?arrow_forward
- I want to correct answer general accounting questionarrow_forwardQuestion: Mr. R bought a machine for Rs 25,000 on which he spent Rs 5,000 for carriage and freight; Rs 1,000 for brokerage of the middleman; Rs 3,500 for installation and Rs 500 for an iron pad. The machine is depreciated @ 10% every year on a written down basis. After three years the machine was sold to Mr. B for Rs 30,500 and Rs 500 was paid as commission to the broker. Find out the profit or loss on the sale of the machine. Please help mearrow_forwardHome Insert Share Formulas Data Review View Help Draw 910 " Calibri (Body) 11 AABU DAVA = Wrap Merge v General B75 vxvfx Common stock - Netspeed D E A B 52 QuickPort's share of NetSpeed's dividends 53 Balance 12/31/2024 54 56 57 58 59 60 55 b. Prepare the worksheet adjustments for the December 31, 2024 consolidation of QuickPort and NetSpeed. TA Account Title Investment in Netspeed Equipment Accumulated depreciation 61 S Common stock - Netspeed 62 63 64 65 A 66 67 68 69 70 D 71 E 72 73 ED 74 Retained earnings - Netspeed Investment in Netspeed Amortization expense Database Investment in Netspeed Amortization expense Equity in earnings of Netspeed Investment in Netspeed Investment in Netspeed Dividends declared Equity in earnings of Netspeed Equipment Noncontrolling interest Common stock - Netspeed 75 76 77 78 Debit Credit 79 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. 80 Nothing in this area will be…arrow_forward
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education





