Cash dividend for shares: A reward or return that a company provides to its investors or shareholders on their investment is called cash dividend. Dividends can be cash or otherwise. Generally, preference shareholders receive a fixed percentage of dividends. They may or may not be cumulative. Common shareholders may or may not receive dividends every year. Common shares dividends depend upon net profit made by the company. When the company do not make profits, common shareholders do not receive dividends. (a) To determine the journal entry for dividends. Given information: Preferred dividends: 6%. Common dividend: $0.30 per share. Treasury stocks issued: 1,500. Preferred is selling at $80 per share. Common at $12 per share. Net income: $77,000.

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Answer 1

Question

Chapter 15, Problem 7P

To determine

Cash dividend for shares: A reward or return that a company provides to its investors or shareholders on their investment is called cash dividend. Dividends can be cash or otherwise. Generally, preference shareholders receive a fixed percentage of dividends. They may or may not be cumulative. Common shareholders may or may not receive dividends every year. Common shares dividends depend upon net profit made by the company. When the company do not make profits, common shareholders do not receive dividends.

(a)

To determine the journal entry for dividends.

Given information: Preferred dividends: 6%.

Common dividend: $0.30 per share.

Treasury stocks issued: 1,500.

Preferred is selling at $80 per share.

Common at $12 per share.

Net income: $77,000.

To determine

(b)

To determine the cash dividends.

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Hi expert

Galaxy Electronics sold 4,500 units in 2020 at $600 each. Variable costs: $450 per unit Fixed costs: $250,000 What was Galaxy Electronics' 2020 net income? A. $275,000 B. $325,000 C. $400,000 D. $425,000

Determine the factory overhead allocated per unit

Answer 2

Question

Chapter 15, Problem 7P

To determine

Cash dividend for shares: A reward or return that a company provides to its investors or shareholders on their investment is called cash dividend. Dividends can be cash or otherwise. Generally, preference shareholders receive a fixed percentage of dividends. They may or may not be cumulative. Common shareholders may or may not receive dividends every year. Common shares dividends depend upon net profit made by the company. When the company do not make profits, common shareholders do not receive dividends.

(a)

To determine the journal entry for dividends.

Given information: Preferred dividends: 6%.

Common dividend: $0.30 per share.

Treasury stocks issued: 1,500.

Preferred is selling at $80 per share.

Common at $12 per share.

Net income: $77,000.

To determine

(b)

To determine the cash dividends.

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Answer 3

Question

Chapter 15, Problem 7P

To determine

Cash dividend for shares: A reward or return that a company provides to its investors or shareholders on their investment is called cash dividend. Dividends can be cash or otherwise. Generally, preference shareholders receive a fixed percentage of dividends. They may or may not be cumulative. Common shareholders may or may not receive dividends every year. Common shares dividends depend upon net profit made by the company. When the company do not make profits, common shareholders do not receive dividends.

(a)

To determine the journal entry for dividends.

Given information: Preferred dividends: 6%.

Common dividend: $0.30 per share.

Treasury stocks issued: 1,500.

Preferred is selling at $80 per share.

Common at $12 per share.

Net income: $77,000.

To determine

(b)

To determine the cash dividends.

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Answer 4

Question

Chapter 15, Problem 7P

To determine

Cash dividend for shares: A reward or return that a company provides to its investors or shareholders on their investment is called cash dividend. Dividends can be cash or otherwise. Generally, preference shareholders receive a fixed percentage of dividends. They may or may not be cumulative. Common shareholders may or may not receive dividends every year. Common shares dividends depend upon net profit made by the company. When the company do not make profits, common shareholders do not receive dividends.

(a)

To determine the journal entry for dividends.

Given information: Preferred dividends: 6%.

Common dividend: $0.30 per share.

Treasury stocks issued: 1,500.

Preferred is selling at $80 per share.

Common at $12 per share.

Net income: $77,000.

To determine

(b)

To determine the cash dividends.

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Answer 5

Chapter 15, Problem 7P

To determine

Cash dividend for shares: A reward or return that a company provides to its investors or shareholders on their investment is called cash dividend. Dividends can be cash or otherwise. Generally, preference shareholders receive a fixed percentage of dividends. They may or may not be cumulative. Common shareholders may or may not receive dividends every year. Common shares dividends depend upon net profit made by the company. When the company do not make profits, common shareholders do not receive dividends.

(a)

To determine the journal entry for dividends.

Given information: Preferred dividends: 6%.

Common dividend: $0.30 per share.

Treasury stocks issued: 1,500.

Preferred is selling at $80 per share.

Common at $12 per share.

Net income: $77,000.

To determine

(b)

To determine the cash dividends.

Answer 6

Chapter 15, Problem 7P

To determine

Cash dividend for shares: A reward or return that a company provides to its investors or shareholders on their investment is called cash dividend. Dividends can be cash or otherwise. Generally, preference shareholders receive a fixed percentage of dividends. They may or may not be cumulative. Common shareholders may or may not receive dividends every year. Common shares dividends depend upon net profit made by the company. When the company do not make profits, common shareholders do not receive dividends.

(a)

To determine the journal entry for dividends.

Given information: Preferred dividends: 6%.

Common dividend: $0.30 per share.

Treasury stocks issued: 1,500.

Preferred is selling at $80 per share.

Common at $12 per share.

Net income: $77,000.

Answer 7

Chapter 15, Problem 7P

To determine

Cash dividend for shares: A reward or return that a company provides to its investors or shareholders on their investment is called cash dividend. Dividends can be cash or otherwise. Generally, preference shareholders receive a fixed percentage of dividends. They may or may not be cumulative. Common shareholders may or may not receive dividends every year. Common shares dividends depend upon net profit made by the company. When the company do not make profits, common shareholders do not receive dividends.

(a)

To determine the journal entry for dividends.

Given information: Preferred dividends: 6%.

Common dividend: $0.30 per share.

Treasury stocks issued: 1,500.

Preferred is selling at $80 per share.

Common at $12 per share.

Net income: $77,000.

Answer 8

To determine

(b)

To determine the cash dividends.

Answer 9

To determine

(b)

To determine the cash dividends.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 15 - Prob. 1Q Ch. 15 - Prob. 2Q Ch. 15 - 3. Distinguish between common and preferred...Ch. 15 - 4. Why is the distinction between paid-in capital...Ch. 15 - Prob. 5Q Ch. 15 - Prob. 6Q Ch. 15 - Prob. 7Q Ch. 15 - Prob. 8Q Ch. 15 - Prob. 9Q Ch. 15 - Prob. 10Q

(b) To determine the cash dividends.

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(b)

To determine the cash dividends.