the declaration, record, and payment dates in connection with a cash dividend of $31,000 on a corporation's common stock are july 9, august 31, and october 1. journalize the entries required on each date.
Answers
A corporation announces its intention to issue a cash dividend on a certain date called the declaration date. This is the date on which the board of directors authorizes and declares a dividend payment. As a result, the total amount of the dividend is recorded in the corporation's accounting records as a liability.
The next important date is the record date. This is the date on which shareholders who will receive the dividend are determined. Shareholders who are on the record on this day will receive the dividend payout.
Finally, there is the payment date. This is the date on which shareholders are paid their dividend. As previously stated, a cash dividend of $31,000 was declared on a corporation's common stock, with declaration, record, and payment dates of July 9, August 31, and October 1. The journal entries required for each date are as follows: Declaration Date:
The cash dividend amount, $31,000, must be recorded as a liability, and the declaration date is entered as the date.
Dividends Payable = $31,000, Cash = $31,000, Record Date: On this date, no journal entry is recorded since it is only used to determine which shareholders will receive the dividend. Payment Date: On this date, a liability account is debited, and a cash account is credited. Dividends Payable = $31,000, Cash = $31,000
Therefore, the corporation's dividend will be paid out to all the shareholders whose names appear on the company's register on the record date, which is August 31.
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Related Questions
True or false.
Supply and demand determines the price of labor paid for jobs earning more than minimum wage.
Answers
Answer:
true
Explanation:
Ethical principles in business A. deal chiefly with the actions and behaviors required to operate companies in a socially and environmentally responsible manner as dictated by government regulations. B. deal chiefly with the rules each company's top management and board of directors make about "what is right" and "what is wrong." C. are not materially different from ethical principles in general. D. are generally less stringent than the ethical principles for society at large. E. are generally more stringent than the ethical principles for society at large.
Answers
Answer:
C. are not materially different from ethical principles in general.
Explanation:
Ethical principles in business are not materially different from ethical principles in general. They correspond to the protection of life, human dignity, freedom, human integrity, diversity, justice, etc.
In an organization, compliance with ethical principles is essential for the organization's survival. Through organizational ethics it is possible for the organizational culture to be based on respect for personal individualities, the values of employees, mutual respect regardless of hierarchical position, etc.
An ethical company will have a stronger reputation and positioning in the internal and external environment, positively influencing the entire environment and society in general.
what is medium level profession
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Hope it helps :)
does bank accounts last forever?
Answers
Answer:no they don’t
Explanation:
they will become dormant after 24 months
Rebecca wants to buy a new saddle for her horse. The one she wants usually costs $600, but this week it is on sale for $490. She does not have $490, but she could buy it with $60 down and pay the rest in 6 months with 9 percent interest. Does Rebecca save any money buying the saddle this way? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Answers
Answer:
high quality and the other one is a little more than I can say is that I was just wondering if you were still going to be able to make it to the store and get some rest and feel better soon and that is why I am asking for a friend to talk to you about it when I get home
which type of annuity stops all payments upon the death of the annuitant?
Answers
The type of annuity that stops all payments upon the death of the annuitant is called a "Life Only" or "Single Life" annuity. With this type of annuity, the payments are based solely on the life expectancy of the annuitant.
An annuity is a financial product or investment that provides a series of regular payments to an individual over a specified period of time. It is typically used as a retirement income vehicle or a long-term investment tool. Annuities are often sold by insurance companies, although they can also be offered by other financial institutions.
The key feature of an annuity is its payment structure. The individual, known as the annuitant, makes either a lump-sum payment or a series of premium payments into the annuity contract. In return, the annuity promises to provide a steady stream of income payments to the annuitant, usually on a monthly or annual basis, for a predetermined duration or for the rest of their life.
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A Life Annuity is the type of annuity that stops all payments upon the death of the annuitant. In this setup, payments are made for their lifetime, and there are different options according to the contract chosen.
Explanation:The type of annuity that stops all payments upon the death of the annuitant is called a Life Annuity. In a Life Annuity, periodic payments are made to the annuitant for their lifetime. When the annuitant passes away, the payments cease. This setup can have different options according to the contract chosen by the annuitant. One example is the 'Life with Period Certain' option, where the annuity guarantees payment for a specific number of years, even if the annuitant passes away before the end of the period. If the annuitant lives beyond the specified period, they continue to receive payments until their death. However, in a straight life annuity, the payments stop immediately after the death of the annuitant.
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As a result of compounding, the effective annual rate on a bank deposit (or a loan) is always equal to or greater than the nominal rate on the deposit (or loan). True False
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It should be noted that the effective annual rate on a bank deposit is always equal to or greater than the nominal rate on the deposit. Therefore, it is true.
What is effective annual rate?The effective interest rate is the interest rate on a loan restated from the nominal interest rate and it is expressed as the equivalent interest rate when compound interest was payable annually in arrears.
As a result of compounding, the effective annual rate on a bank deposit (or a loan) is always equal to or greater than the nominal rate on the deposit.
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please describe your knowledge of accounting principles as it relates to a financial business system
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Accounting principles are the rules and guidelines that companies and different business must follow when describing financial data.
The utmost thing of any coalition of accounting principles is to insure that a company’s fiscal accounts are comprehensive, harmonious, and similar. This makes it cheap for investors to dissect and prize practicable data from the company’s fiscal accounts, containing tendency data over a menstruation of time.
Account facts isn't absolute or genuine, and norms are elaborated to minimize the adversarial goods of incompatible data. Without these regulations, assimilating fiscal accounts among companies would be extremely delicate, indeed within the identical assiduity and Inconsistencies and errors also would be complex to spot.
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according to the aicpa code of professional conduct, what would a covered member most appropriately do upon learning that another member of an attest engagement team is considering employment with the client?
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According to the AICPA code of professional conduct, the covered member should notify an appropriate person in the firm upon learning that another member of an attest engagement team is considering employment with the client.
What is AICPA code of professional conduct?
The American Institute of Certified Public Accountants published the AICPA Code of Professional Conduct, which is a set of codified statements outlining a CPA's ethical and professional obligations. The code outlines requirements for auditor independence, objectivity, and integrity as well as obligations to customers and coworkers and behaviors that are detrimental to the accounting profession. The code must be written, revised, and reissued by the AICPA every year on June 1. In his speech to the American Association of Public Accountants' annual meeting in 1907, Joseph Edmund Sterrett discussed the controversy and problems surrounding the creation of a code of professional conduct.
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Which of the following is a better measure of economic development Mcq? A. IN-----ncidance of poverty B. Geographical conditions C. Green Index D. Life status
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The most relevant metric is gross domestic product, which assesses the monetary worth of finished products and services—those purchased by the ultimate consumer—produced in a nation over a certain period of time.
How does economic development work, for instance?
An improvement in a nation's wealth and level of living is referred to as economic development. Improvements in productivity, literacy rates, and public education, for instance, are all effects of economic growth in a nation.
Why is economic growth crucial?
Economic development is a key factor in economic growth because it generates new employment possibilities and promotes a higher standard of living for current and future citizens by providing better access to opportunities brought about by economic growth.
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land improvements are recorded separately from the land itself because, unlike land, these assets are subject to depreciation. group startstrue or false
Answers
The statement is true. Land improvements are recorded separately from the land itself because they have different characteristics and are subject to depreciation.
Land is typically considered a non-depreciable asset because its value is expected to remain relatively stable over time. On the other hand, land improvements, which include additions or enhancements to the land such as fences, driveways, landscaping, and buildings, have a limited useful life and are subject to depreciation.
By recording land improvements separately, it allows for more accurate tracking of their costs, useful life, and depreciation. It also enables proper accounting treatment, such as allocating the cost of land improvements over their estimated useful life using depreciation methods. This helps in matching the cost of the land improvements with the revenue or benefits they generate over time.
Land improvements are recorded separately from the land itself because they have different characteristics and are subject to depreciation. Properly accounting for land improvements allows for more accurate financial reporting and ensures the matching of costs with the revenue or benefits generated by these assets over their useful life.
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Why is creative thinking important to generate business ideas?
Answers
Answer: Creative thinking is necessary for business problem-solving.
Explanation: The skill of creative thinking is a helpful skill because it teaches workers/business owners to find opportunities and ways to improve something even if the situation is challenging. This also lets the person face a problem or situations by a different view. I hope this helped!
What information does a lead contain in a news story?
Answers
Answer:
1st one
Explanation:
The RMC Corporation blends three raw materials to produce two products: a fuel additive and a solvent base. Each ton of fuel additive is a mixture of 2/5 ton of material 1 and 3/5 ton of material 3. A ton of solvent base is a mixture of 1/2 ton of material 1, 1/5 ton of material 2, and 3/10 ton of material 3. RMC’s production is constrained by a limited availability of the three raw materials. For the current production period, RMC has the following quantities of each raw material: material 1, 20 tons; material 2, 5 tons; material 3, 21 tons. Management wants to achieve the following P1 priority level goals:
Goal 1: Produce at least 30 tons of fuel additive.
Goal 2: Produce at least 15 tons of solvent base.
Assume there are no other goals.
Is it possible for management to achieve both P1 level goals given the constraints on the amounts of each material available?
Raw Material Amount needed to Achieve Both P1 Goal
Treating the amounts of each material available as constraints, formulate a goal programming model to determine the optimal product mix. Assume that both P1 priority level goals are equally important to management. If you don't need the variable in the model, enter "0". If you need a negative number, enter minus sign with it. If necessary, enter the numbers as a common fraction.
Let x1 = the number of tons of fuel additive produced
x2 = the number of tons of solvent base produced
d1+ = the amount by which the number of tons of fuel additive produced exceeds the target value of 30 tons
d1- = the amount by which the number of tons of fuel additive produced is less than the target of 30 tons
d2+ = the amount by which the number of tons of solvent base produced exceeds the target value of 15 tons
d2- = the amount by which the number of tons of solvent base is less than the target value of 15 tons
Answers
Answer:
Goal 1: Produce at least 30 tons of fuel additive.
Goal 2: Produce at least 15 tons of solvent base.
Explanation:
To formulate the goal programming model, we need to set up the objective function and the constraints based on the given information. Let's define the decision variables and the deviation variables:
Decision variables:
Let x1 = the number of tons of fuel additive produced
Let x2 = the number of tons of solvent base produced
Deviation variables (amount by which the goals are exceeded or not met):
Let d1+ = the amount by which the number of tons of fuel additive produced exceeds the target value of 30 tons
Let d1- = the amount by which the number of tons of fuel additive produced is less than the target of 30 tons
Let d2+ = the amount by which the number of tons of solvent base produced exceeds the target value of 15 tons
Let d2- = the amount by which the number of tons of solvent base is less than the target value of 15 tons
Objective function:
Since both goals are equally important, we want to minimize the total deviations from the target values. The objective function is the sum of these deviations:
Minimize: Z = d1+ + d1- + d2+ + d2-
Constraints:
Material 1 constraint: The total material 1 used in producing fuel additive and solvent base cannot exceed the available 20 tons of material 1.
2/5 * x1 + 1/2 * x2 <= 20
Material 2 constraint: The total material 2 used in producing solvent base cannot exceed the available 5 tons of material 2.
1/5 * x2 <= 5
Material 3 constraint: The total material 3 used in producing fuel additive and solvent base cannot exceed the available 21 tons of material 3.
3/5 * x1 + 3/10 * x2 <= 21
Fuel additive production goal constraint: The fuel additive production should be at least 30 tons.
x1 + d1+ - d1- = 30
Solvent base production goal constraint: The solvent base production should be at least 15 tons.
x2 + d2+ - d2- = 15
Non-negativity constraints:
x1, x2, d1+, d1-, d2+, d2- >= 0
Now we have the complete goal programming model. The objective is to minimize the total deviations (d1+, d1-, d2+, d2-) from the target values while satisfying the material constraints and the production goals. The model can be solved using standard optimization techniques such as linear programming to find the optimal production mix.
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Which statement best describes the difference between an epidemic and a pandemic?
A pandemic lasts for a long time, and an epidemic lasts only a short period of time.
A pandemic involves many deaths, and an epidemic only involves sickness.
An epidemic is contained to a region, and a pandemic is global
An epidemic involves an illness where a pandemic involves an injury.
acupuncture, herbal medicine, and meditat
the Hippocratic Oath, the humoral theory, and meditation
bloodletting, plasters, and herbal medicine
Answers
Answer:
a pandemic involves many deaths , and an epidemic only involves sickness
Answer:
An epidemic is contained to a region and a pandemic is global.
Which of the following affects employers’ decisions on how much to pay their workers? Maximizing costs
Maximizing profits
Minimizing profits
Minimizing benefits
Answers
What affects employers’ decisions on how much to pay their workers is : Maximizing profits.
What is profit maximization?Profit maximization can be defined as the way in which a company or an organization tend to determine the price level that enables them to maximize profit.
Every company or organization goals is to make profit based on this company that is determine to make profit must tend to make use of profit maximization approach.
Profit maximization is important as it can tend to lead to sustainable growth for companies which is why most companies make use of profit maximization strategy so as to make higher profit.
Therefore what affects employers’ decisions on how much to pay their workers is : Maximizing profits.
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Steven manages a team responsible for opening new restaurants of a large, fast-food chain. His team goal is to open eight restaurants in four months' time, and he's mapped out a plan for breaking this goal into actual tasks and projects. As Steven's mentor, what advice do you give him for managing obstacles that might disrupt his progress?
Answers
Answer:
divide all of the current obstacles by the level of urgency and take it one step at a time
Explanation:
When making any sort of plans there will always be unexpected obstacles that prevent/disrupt you from making progress. In these situations, the best advice would be to divide all of the current obstacles by the level of urgency and take it one step at a time. If you try to solve all the problems at once you will get overwhelmed and stressed out. Instead solve one at a time, focusing on the more urgent problems first.
Plant Away is an Oregon-based retailer and distributor of trees and shrubs. They have hundreds of smaller nurseries based around the country that grow the plant stock. The majority of their business is conducted online Consumers purchase typically small quantities of products online and Plant Away coordinates the shipping from the most appropriate nursery. What unique problems might you anticipate they have in their supply chain? What might remedy these problems?
Answers
Answer: See explanation
Explanation:
A supply chain refers to the network of people, firms, resources, technology etc that are involved in product creation and sale.
Based on the question, the unique problems that one can anticipate in the supply chain can be due unforeseeable events. For example, the uncertainties in this case can be disease of plants, bad weather, interstate regulations etc.
To remedy the problem, it's vital to have a weather forecast that's up-to-date. This can help in anticipating the challenges and then determining the best transportation routes to take.
Tyler, a self-employed taxpayer, travels from Denver to Miami primarily on business. He spends five days conducting business and two days sightseeing. His expenses are $400 (airfare), $150 per day (meals at local restaurants), and $300 per night (lodging). If required, round your answers to the nearest dollar. What are Tyler's deductible expenses in the below year: 2023 $fill in the blank 1 2022 $fill in the blank 2
Answers
The deductible expenses for Tyler in these years are:
2023 = $22752022 = $2650How to solve for the deductible expensesAir fare = 400 dollars
Lodging = 300 x 5
meals = 150 x 5 x 50%
Total in 2023 = 400 + 1500 + 375
= $2275
The deductible for 2022400 + 5x150 + 5x300
= $2650
Hence the total deductible in 2023 = $2275
and in 2022 = $2650
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If your mom knew that Publix was going to have a big sale on chicken breast next week then her demand for chicken would________________
Increase
Decrease
No Change
Answers
What is one method that helps control online fraud? O A. Deleting odd emails before reading B. Reporting odd emails to police • C. Reporting odd emails as spam • D. Signing into email in many locations
Answers
Answer: C. Reporting odd emails as spam
Explanation:
Melissa has bought a $2 lottery ticket every week for the past 30 years. This week she won for the first time -$2,000 in her state lottery. Compare these winnings to her total investment, and explain if the lottery was a worthwhile endeavor for her.
Answers
The amount of money Melissa invested in lottery tickets over the past 30 years is $3,120. Melissa's total investment in lottery tickets over the past 30 years was $3,120, according to the calculations. She won $2,000 this week for the first time.
Melissa spent $1,120 more on lottery tickets over the last 30 years than she won this week. LONG ANSWER:The amount of money Melissa invested in lottery tickets over the past 30 years is $3,120. Melissa spent $2 on the lottery every week for the past 30 years, according to the problem. That means she has spent $2 * 52 weeks * 30 years = $3,120. Melissa's total investment in lottery tickets over the past 30 years was $3,120, according to the calculations. She won $2,000 this week for the first time.
Subtract the total amount spent on lottery tickets from the prize money to determine whether the lottery was a worthwhile investment for Melissa. $2,000 (prize money) - $3,120 (total spent on lottery tickets) = -$1,120. Melissa spent $1,120 more on lottery tickets over the last 30 years than she won this week. So, it can be concluded that the lottery was not a worthwhile endeavor for Melissa.
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What would be the most important type of information to include in and operations manual for a new piece of software
Answers
The most important type of information to include in an operations manual for a new piece of software are:
Company contact information (address, phone, fax, website URL, email addresses for key departments)Hours of operation.Organizational chart.Job descriptions for each job in the company O Password lists or where to find them.Emergency procedures.Disaster recovery plan.The software program is a set of laptop programs and associated documentation and statistics. this is an evaluation of the hardware, from which the machine is built and which in reality plays the paintings.
At the lowest programming stage, executable code includes gadget language commands supported by means of a person processor—generally a vital processing unit (CPU) or a pix processing unit (GPU).
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Bridgett received her bank statement with a previous balance of $181.36. Total deposits were $475.00. Total checks written were $165.25. The service charge was $7.00. How much money does Bridget have in her checking account?
Your answer:
-$121.39
$484.11
$491.11
Answers
Answer:
$484.11
Explanation:
Calculation to determine How much money does Bridget have in her checking account?
Previous balance of $181.36
Add Total deposits $475.00
Less Total checks written $165.25
Less service charge $7.00
Checking account balance $484.11
Therefore How much money does Bridget have in her checking account is $484.11
What are federal income taxes?
Answers
Answer:
Federal tax is the money used by the government of a country to pay for the growth and upkeep of the country. Some look at federal tax as "rent"
Explanation:
Income taxes im the United States are imposed by the federal government and most states
Income taxes are determined by applying a tax rate, which may increases, to texable income, which is the total income less allowable deductions.
golden company had the following accounts and balances at the end of the year. what are total assets at the end of the year?
Answers
The golden company had the following accounts and balances at the end of the year. Accounts Payable $18,000 are total assets at the end of the year.
The assets is a set of collection like stock, gold etc, which has the chance to increase the price of the current market-price.
The accounts payable is the amount that transact after the selling of the gold products. It can include the depositing funds, and card transaction. The importance of asset is basically give strong impact on the IPO time, more investor can invest in the business if they have more assets.
The more assets reflects the good image of the business or company and show it is financially well and earn profitable by the selling more goods or services.
The Accounts Payable $18,000 are total assets at the end of the year.
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how
has covid 19 affect sickle cell with hospital financial
strain
Answers
The financial strain caused by the COVID-19 pandemic has had an impact on the management and treatment of sickle cell disease in hospitals.
Hospitals have faced resource constraints, including limited staff, equipment, and funding, which can affect the quality and accessibility of care for individuals with sickle cell disease. This may lead to challenges in providing timely and comprehensive treatment, monitoring, and support services for patients with sickle cell disease, potentially impacting their overall health outcomes. The financial strain on hospitals has highlighted the need for continued investment and support in healthcare systems to ensure the provision of adequate care for individuals with chronic conditions like sickle cell disease.
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if a bond is currently selling for less than par value, then: qid: 3571191 mark for review a the current yield is lower than the nominal yield b the current yield is equal to the nominal yield c the current yield is higher than the nominal yield d interest rates are currently lower than when the bond was originally issued
Answers
C) If a bond is currently selling for less than par value, then the current yield is higher than the nominal yield.
When a bond is selling for less than par value, that means that the coupon rate of the bond is higher than the current market interest rate. This means that the current yield is higher than the nominal yield, or the coupon rate.
The yield of a bond is the rate of return that investors receive from the bond's interest payments. The nominal yield is the coupon rate of the bond, which is the stated rate of interest of the bond when it was issued.
The current yield is the amount of return that the investor is receiving from the bond in the current market. When a bond is selling for less than par value, the current yield is higher than the nominal yield because the coupon rate is higher than the current market rate. As a result, investors purchasing the bond receive a higher return from their investment.
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question 6 a retail store runs a special sale with the goal of increasing sales over the holiday season. they use the increase in sales over the same month last year as a starting point. what type of goal is this an example of?
Answers
The retail store's goal of increasing sales over the holiday season by using the increase in sales over the same month last year as a starting point is an example of a comparative goal.
A comparative goal involves setting a target based on a comparison with a previous period or benchmark. In this case, the retail store is using the increase in sales over the same month last year as the starting point for their goal.
By comparing the current month's sales to the sales from the previous year, the store aims to achieve a higher level of sales during the holiday season.
Comparative goals are commonly used in business settings as a way to track progress, measure performance, and drive improvement. They provide a reference point for evaluating success or identifying areas that need improvement.
In this scenario, the retail store is looking to surpass the sales figures from the previous year, indicating growth and increased performance.
Setting comparative goals offers several advantages. Firstly, they provide a clear and measurable target that is based on historical data, making it easier to track progress and evaluate success.
Secondly, comparative goals can serve as motivation for employees and teams by challenging them to outperform previous achievements. Finally, comparative goals can provide valuable insights into trends and patterns in performance, helping organizations make informed decisions for future strategies and planning.
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One advantage of a corporation is the ease of obtaining a charter.
a. true
b. false
Answers
false. One advantage of a corporation is not the ease of obtaining a charter.
Obtaining a charter for a corporation is not necessarily easy, so the statement is false. The process of establishing a corporation involves various legal and administrative requirements, which can vary depending on the jurisdiction. While it is possible to incorporate a business, it typically requires following specific procedures, submitting necessary documentation, and fulfilling certain criteria set by the relevant authorities.
To obtain a charter or articles of incorporation, prospective corporations often need to provide detailed information about the business, such as its purpose, structure, ownership, and registered address. They may also need to pay filing fees and comply with specific regulations and legal obligations related to corporate governance, taxation, and reporting.
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