Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when
Question:
Nutritious Pet Food Company’s board of directors declares a large stock dividend (50%) on June 30 when the stock’s market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value...
-
Nutritious Pet Food Companys board of directors declares a small stock dividend (20%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value...
-
Nutritious Pet Food Companys board of directors declares a small stock dividend (20%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value...
-
Fewer than 20% of M&M candies are green. The hypothesis test results in a P-value of 0.0721. Assume a significance level of = 0.05 a. State a conclusion about the null hypothesis. b. Without using...
-
Rick has a $50,000 basis in the RKS General Partnership on January 1 of the current year, and he owns no other investments. He has a 20% capital interest, a 30% profits interest, and a 40% loss...
-
Information on Bowgie Chemicals direct materials costs follows: Actual quantities of direct materials used . . . . . . . 30,000 Actual costs of direct materials used . . . . . . . . . . $131,400...
-
Social Jetlag Social jetlag refers to the difference between circadian and social clocks, and is measured as the difference in sleep and wake times between work days and free days. For example, if...
-
1. Would you characterize television programming decisions as structured or unstructured? Explain. What type of decision-making condition would you consider this to be? Explain. 2. What criteria did...
-
What is the total cash collection for April? Q1- the following is information of Royal Company for the quarter ending June 30th Sales budgets for the next four months are: April May June Budget sales...
-
The Bayview Resort has three operating departmentsthe Convention Center, Food Services, and Guest Lodgingthat are supported by three service departments General Administration, Cost Accounting, and...
-
A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following? A. A credit to common stock B. A credit to cash...
-
You have some funds that you would like to invest and you are relying heavily on the EPS calculation to help you make your decision. Initially you are baffled about why preferred dividends are...
-
Refer to the table for Moola at the bottom of this page to answer the following questions. What is the equilibrium interest rate in Moola? What is the level of investment at the equilibrium interest...
-
What are the shortcomings of social media when used as a key medium to spread social awareness about an issue?
-
What methods of representation could sponsors, and sports organizations, use to enhance the visibility of women athletes?
-
Discuss whether people designated male at birth really have advantages in sports. Besides advantages from higher levels of testosterone, what other factors might explain an athletes dominance in a...
-
Beside the ones described here, what other strategies do you recommend for a professional womens sport to achieve equal pay?
-
Beyond communication, USA Fencing officials were highly constrained in their ability to act by legal limits to their authority to investigate the allegations against Hadzic or impose sanctions. What...
-
Following eq. 10.19, write out the steps in the mechanism for the acid-catalyzed preparation of ethyl acetate from ethanol and acetic acid. In the United States, this method is used commercially to...
-
Why is it important to understand the macro-environment when making decisions about an international retail venture?
-
Alice and Bruce are equal partners in the calendar year AB Partnership. On November 1 of the current year, Carl joined the partnership by making a $100,000 cash contribution in exchange for a...
-
Anita has a one-half interest in the AB Partnership. Anitas basis in her interest at the beginning of the current year is $75,000. During the year, the following events occur: Partnership...
-
Keith has a one-half interest in the KL Partnership. His basis in the partnership interest at the end of the current year (before deducting his share of partnership losses) is $40,000. His share of...
-
what if the company sold 1100 tires to the Nixon Car company for $60 each. Harwell uses the net method of accounting for cash discounts
-
Why is there risk of earnings overstatement in accounting for construction contracts? Significant professional judgment is required to make estimates used in the calculations. Percentage of...
-
Clarkson Construction buys $800 of merchandise on account from Hillside Tools. Hillside Tools offers credit terms of 2/10, n/30. If Clarkson Construction pays the total amount due within 10 days, its...
Study smarter with the SolutionInn App