Declaration of a liquidating dividend

Assignment Help Accounting Basics
Reference no: EM13135879

A mining company declared a liquidating dividend. the journal entry to record the declaration must include a debit to:

A. reetained earnings

B. a paid-in capital account

C. Accumulated depletion

D. Accumulated Depreciation

Reference no: EM13135879

Questions Cloud

What happens as a result of these transfers : Each receives 50% of Tiger Corporation's stock, which is worth a total of $200,000. What happens as a result of these transfers?
What is the percentile rank for x : What is the percentile rank for X=6? What is the percentile rank for X=9? For the following scores, the lowest value is X=13. Place the scores in a frequency table using.
How do we calculate the market value of a bond : In connection with the issue of bonds at a premium or a discount, what does the term carrying value of bonds mean? What would the carrying value be at maturity date?
Affirmative action historical case analysis : Discuss the positives and negatives of affirmative action in general and whether you agree or disagree with the specific findings of the case.
Declaration of a liquidating dividend : A mining company declared a liquidating dividend. the journal entry to record the declaration must include a debit to:
Calculate the company''s times interest earned ratio : A company's income before interest expense and income taxes in 2008 and 2009 is $225,000 and $200,000, respectively. Its interest expense was $45,000 for both years. Calculate the company's times interest earned ratio, and comment on its level of ..
Could the company report only as an asset : when long-lived assets are purchased with a loan, can a company report the net difference between the cost of the asset and the mortgage liability against the asset, instead of reporting the two amounts separately on the balance sheet?
What is the isotopic mass of the other isotope : The atomic weight of a newly discovered el-ement is 10.600 amu. It has two naturally occuring isotopes. One has a mass of 10.000 gms and a natural abundance of 70.000%. What is the isotopic mass of the other isotope?
Identify authoritative literature that addresses disclosure : Identify the authoritative literature that addresses disclosure of information about capital structure. What information about securities must companies disclose? Discuss how Hincapie should report the proposed preferred stock issue.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Total conversion costs for the period

All materials are added at the beginning of the process. Direct labor was $49,500 and factory overhead was $9,900. The total conversion costs for the period were:

  Permanent and temporary accounts

Discuss the differences between temporary and permanent accounts. What will happen if the temporary accounts like revenue, expense and dividend accounts are not closed in the ledger?

  Weighted-average process-costing system

Strawberry Company uses a weighted-average process-costing system. Company records disclosed that the firm completed 40,000 units during the month and had 10,000units in process at month-end,20% complete.

  Writing journal entries to record issuance of bonds

On the first day of the current fiscal year, $1,000,000 of 10-year, 7% bonds, with interest payable semiannualy were sold for $1,050,000. Present entries to record the following transactions for the current fiscal year:

  Provide the fund level entries in general journal

The Central Stores Fund of Cook City provides centralized management of purchasing, storage, and issue of supplies for the entire City. For the following summarized transactions and events for the year ended June 30, provide the fund level entries..

  Gross margin as a percent of net revenue

What are some examples of direct and indirect inventoriable costs for Dell? Why has Dell's gross margin (in dollars) steadily increased from 2003 to 2005, yet the gross margin as a percent of net revenue has only increased slightly?

  How is interest income and interest expense reflected

describe the Statement of Cash Flows for a public college. Should the direct method be used? OR can the indirect method be used? What are the reconciliation starting and ending points? Is the cash flow statement similar to any that are produced fo..

  What are the requirements for an involuntary petition

A bankruptcy case may begin with either a voluntary or an involuntary petition. What is the difference? What are the requirements for an involuntary petition?

  How is iris corporation taxed on the distribution

Iris Corporation owns 30% of Fresia Corporation's stock. On November 15, Fresia Corporation, with current E & P of $320,000, distributes land (fair market value of $100,000; basis of $160,000) to Iris. The land is subject to a liability of $80,000..

  Bonus now or bonus deferment in 10 years

Under the terms of his salary agreement, president Juan Rivera has an option of receiving either an immediate bonus of $40,000, or a deferred bonus of $75,000 payable in 10 years.

  Determining annuity payments

On January 1, 2010, Andrea purchased a 20-year annuity for $160,000 from LUKE LIBERTY (an established insurance company). Under the annuity, Andrea will receive payments of $1,480 for each month of annuity's life. How much of the annuity payments ..

  W rhodes and associates

You are a graduate accountant working for W Rhodes and Associates a public accounting firm situated at 556677 George Street, Victoria.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd