The company owns 2,000 shares of Stock A and 4,000 shares of Stock B. The company received
Question:
The company owns 2,000 shares of Stock A and 4,000 shares of Stock B. The company received dividends of $2.50 per share from Stock A and $0.65 per share from Stock B. The company classifies Stock A as a trading security and Stock B as an available-for-sale security. Make the journal entry or entries necessary to record the receipt of the cash dividends.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
Dividends received on trading and ava...View the full answer
Answered By
Pushpinder Singh
Currently, I am PhD scholar with Indian Statistical problem, working in applied statistics and real life data problems. I have done several projects in Statistics especially Time Series data analysis, Regression Techniques.
I am Master in Statistics from Indian Institute of Technology, Kanpur.
I have been teaching students for various University entrance exams and passing grades in Graduation and Post-Graduation.I have expertise in solving problems in Statistics for more than 2 years now.I am a subject expert in Statistics with Assignmentpedia.com.
4.40+
3+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Question Posted:
Students also viewed these Accounting questions
-
The company owns 2,000 shares of Stock A and 6,000 shares of Stock B. The company received dividends of $1.75 per share from Stock A and $0.97 per share from Stock B. The company classifies Stock A...
-
An investor purchased 500 shares of stock A at $22 per share and 1,000 shares of stock B at $30 per share one year ago. Stock A and stock B paid quarterly dividends of $2 per share and $1.50 per...
-
1. Security A has expected return of 17.6% and beta of 1.4. If the risk-free rate is 6%, what is the reward-to-risk rate for Security A? Question 2 The common stock of Detroit Engines has a beta of...
-
Rhenium forms a series of solid oxides: Re2O7 (yellow), ReO3 (red), Re2O5 (blue), and ReO2 (brown). One of them has a crystal structure with the following unit cell: a. How many rhenium atoms (gray...
-
Find the EAR in each of the following cases: Stated Rate (APR) Number of Times Compounded Effective Rate (EAR) 8% 16 12 15 Quarterly Monthly Daily Infinite
-
Describe your efforts and the results of your own operant conditioning experiment. Any behaviors conditioned should be positive and not harmful to the subject of your experiment.
-
Consider atmospheric air at \(20^{\circ} \mathrm{C}\) and a velocity of \(30 \mathrm{~m} / \mathrm{s}\) flowing over both surfaces of a 1-m-long flat plate that is maintained at \(130^{\circ}...
-
On January 1, 2015, the City of Hastings created a solid waste landfill that it expects to reach capacity gradually over the next 20 years. If the landfill were to be closed at the current time,...
-
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA...
-
Using Tables 3.1, 3.2, and 3.3, conduct a complete ratio analysis of the Bartlett Company for the years 2018 and 2019. You should assess the firms liquidity, activity, debt, and profitability ratios....
-
The company purchased 1,000 shares of equity securities for $32 per share. The shares were purchased as an available-for-sale investment. The brokers commission on the purchase was $20. Make the...
-
On January 1 of Year 1, Davis Company purchased 4,000 shares of the 10,000 outstanding shares of Company B for a total of $65,000. At the time of the purchase, the book value of Company Bs equity was...
-
What impact will an inaccurate progress estimate have on cash flow?
-
ABC Inc. curently has a share price of $44. If they are paying a dividend of $1.13, with a cum dividend date of November 1, would would you expect their share price to be on November 2nd? Please give...
-
Consider a one-sided search model with a two-rung job ladder. Let u, denote the unemployment rate at time t. The remaining of labour force participants are employed at time t, either at a low-wage...
-
In November 2020 you entered into four May 2021 long futures contracts for crude oil (1,000 barrels per contract) for $65.00 per barrel. If the futures price was $70.00 per barrel on December 31,...
-
9, (10 points) You are holding a 2-year 10% (annualized) coupon bond with face value $1,000 now. The interest rate now is 5% (semi-annual). However, the interest rate increases to 5.5% (semi-annual)...
-
Calculate I= S log(x) dr.
-
In 2019, Dan Dunne sold a business machine for $75,000. He had purchased the machine in 2015 for $90,000, had depreciated it on the straight-line basis using a life of five years, and had taken a...
-
Diamond Walker sells homemade knit scarves for $25 each at local craft shows. Her contribution margin ratio is 60%. Currently, the craft show entrance fees cost Diamond $1,500 per year. The craft...
-
Find a political map of Australia. Create a graph model where there is a vertex for each of the six mainland states (Victoria, South Australia, Western Australia, Northern Territory, Queensland, and...
-
On St. Patricks Day 1992, Chambers Development Company, one of the largest landfill and waste management firms in the United States, announced that it had been improperly capitalizing costs...
-
In accounting for the equity of foreign companies, what is the primary purpose of equity reserves?
-
The company has 10,000 shares of 6%, $100 par preferred stock outstanding. In addition, the company has 100,000 shares of common stock outstanding. The company started business on January 1, 2010....
-
Compare and contrast different deadlock prevention techniques such as resource ordering, the "hold and wait" condition, and preemptive resource allocation. Which methods are most effective for...
-
The following information is taken from Aden Company's records: Product Group Units Cost/Unit Market/Unit A 1 700 $1.10 $0.90 B 1 250 1.50 1.55 C 2 150 4.90 5.15 D 2 100 6.50 6.40 E 3 80 25.00 24.60...
-
American Food Services, Incorporated leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2024. The lease agreement for...
Study smarter with the SolutionInn App