FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
9th Edition
ISBN: 9781119595724
Author: Kimmel
Publisher: WILEY C
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Chapter 11, Problem 15Q
To determine
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.
To discuss: the significance of each date and give the entry at each date.
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The declaration, record, and payment dates in connection with a cash dividend of $108,000 on a corporation's common stock are July 9, August 31, and
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Chapter 11 Solutions
FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
Ch. 11 - Prob. 1QCh. 11 - Prob. 2QCh. 11 - Prob. 3QCh. 11 - Prob. 4QCh. 11 - Prob. 5QCh. 11 - Prob. 6QCh. 11 - Prob. 7QCh. 11 - Which is the boiler investmentcommon stock with a...Ch. 11 - Prob. 9QCh. 11 - Prob. 10Q
Ch. 11 - Prob. 11QCh. 11 - Prob. 12QCh. 11 - Indicate how each of these accounts should be...Ch. 11 - What three conditions must be met before a cash...Ch. 11 - Prob. 15QCh. 11 - Prob. 16QCh. 11 - Prob. 17QCh. 11 - Prob. 18QCh. 11 - Prob. 19QCh. 11 - Prob. 21QCh. 11 - Prob. 22QCh. 11 - Prob. 23QCh. 11 - Prob. 24QCh. 11 - Prob. 25QCh. 11 - Prob. 26QCh. 11 - Prob. 11.1BECh. 11 - Prob. 11.2BECh. 11 - Prob. 11.3BECh. 11 - Prob. 11.4BECh. 11 - Prob. 11.6BECh. 11 - Prob. 11.8BECh. 11 - Prob. 11.9BECh. 11 - Prob. 11.10BECh. 11 - Prob. 11.11BECh. 11 - Prob. 11.12BECh. 11 - Prob. 11.13BECh. 11 - Prob. 11.14BECh. 11 - Prob. 11.1aDIECh. 11 - Prob. 11.2aDIECh. 11 - Prob. 11.2bDIECh. 11 - Prob. 11.3aDIECh. 11 - Prob. 11.3bDIECh. 11 - Prob. 11.4aDIECh. 11 - Prob. 11.3ECh. 11 - Prob. 11.4ECh. 11 - Prob. 11.6ECh. 11 - Prob. 11.7ECh. 11 - Prob. 11.8ECh. 11 - Prob. 11.9ECh. 11 - Prob. 11.11ECh. 11 - Prob. 11.19ECh. 11 - Prob. 11.3EYCTCh. 11 - Prob. 11.4EYCTCh. 11 - DECISION MAKING ACROSS THE ORGANIZATION During a...Ch. 11 - Prob. 11.7EYCTCh. 11 - Prob. 11.8EYCTCh. 11 - Prob. 11.9EYCTCh. 11 - Prob. 11.12EYCTCh. 11 - Prob. 11.1IECh. 11 - Prob. 11.2IECh. 11 - Prob. 11.3IE
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- CASH DIVIDENDS AND INCOME TAXES During the year ended December 31, 20-2, Tatu Company completed the following selected transactions: REQUIRED Prepare journal entries for the transactions.arrow_forwardThe declaration, record, and payment dates in connection with a cash dividend of $101,600 on a corporation’s common stock are January 12, March 13, and April 12. Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess…arrow_forwardThe declaration, record, and payment dates in connection with a cash dividend of $135,000 on a corporation’s common stock are January 12, March 13, and April 12. Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.arrow_forward
- For each transaction, prepare a journal entry. Declared $498 in dividends at the end of the year to be paid the following year.arrow_forwardOn March 1, Blue Devil Inc. declared the cash dividends of $44,000 to its common shareholders. Blue Devil recorded the names of shareholders on March 8 and ultimately made payments to shareholders on March 15. Prepare the journal entries for the following cash dividend dates: (1) the date of declaration, (2) the date of record, and (3) the date of payment. HTML EditorKeyboard Shortcutsarrow_forwardPrepare a journal entry on June 30 for dividends of $23,500. Refer to the Chart of Accounts for exact wording of account titles.arrow_forward
- Record entries (if necessary) for the following transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. June 30 Declared a $48,000 cash dividend payable to common stockholders. July 15 The date of record for the cash dividend declared is July 15. July 31 Paid the dividend declared on June 30. View transaction list 1 Declared a $48,000 cash dividend payable to common stockholders. 2 3 The date of record for the cash dividend declared is July 15. Paid the dividend declared on June 30. X Credit >arrow_forwardCash dividends of $77,023 were declared during the year. Cash dividends payable were $10,060 and $13,132 at the beginning and end of the year, respectively. Determine the amount of cash for the payment of dividends during the year.Select the correct answer.$77,023 $66,963 $90,155 $73,951arrow_forwardPrepare journal entries to record the following transactions for Emerson Corporation. July 15 Declared a cash dividend payable to common stockholders of $165,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the dividend declared on July 15.arrow_forward
- Instructions The declaration, record, and payment dates in connection with a cash dividend of $108,000 on a corporation's common stock are January 12, March 13, and April 12. Journalize the entries required on each date. If no entry is required simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account filles Journal POST REF DEBIT DATE CRarrow_forwardOn November 12, XYZ Corporation declared a total cash dividend of $45,000 for stockholders of record on November 20 and payable on December 1. (a) Journalize the entries required on November 12, November 20, and December 1. (b) Briefly describe the significance of November 20.arrow_forwardGreen Rock Corporation had the following transaction: On: Oct .15: It declared cash dividend of $52,000 Dec. 10: It set date of record Jan. 21: Will pay dividend. Make the journal entries to record the transactions on the above dates What is the significance of the date of December 10?arrow_forward
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