How much is the liquidating dividend

Assignment Help Accounting Basics
Reference no: EM13153081

On January 1, 2010, the board of directors of Goby Inc. declared a $540,000 dividend. The following data are from the balance sheet of Goby on that date:

Common stock $500,000
Paid-in capital - excess of par $300,000
Retained earnings $400,000
Paid-in capital from sale of treasury stock $ 50,000

How much is the liquidating dividend?

A) $140,000

B) $240,000

C) $290,000

D) None of the above is correct.

Reference no: EM13153081

Previous Q& A

  Relationship between light-dependent and light-independent

Which of the following statements best describes the relationship between the light-dependent and light-independent reactions of photosynthesis?

  Estimated fixed cost element of power cost

At the high level of activity in November, 7,00 machines hours were run and power cost were $12,000. In April, A month of low activity 2,000 machine hours were run and power costs amounted to $6,000. Using the high-low, the estimated fixed cost el..

  A chemical equation describing the condensation process

Write a chemical equation describing the condensation process for O2 and a chemical equation describing the freezing process for O2. For each process discuss the change in enthalpy and entropy that occurs.

  How configure system of relays to bring rs

Find the system reliability for each of the following.: (b) Which has the higher reliability? How could you configure a system of such relays to bring RS(t) up to 0.999?

  Which set of reactions uses h2o and produces o2

The light-dependent reactions or The light-independent reactions.

  What is financial analysis?

what is financial analysis?

  How gain be treated

During the year, Henry, a sole proprietor, sold for $65,000 a machine that was used in his business. The machine had been purchased in 2003 for $50,000, and when it was sold it had an adjusted basis of $30,000. How should this gain be treated?

  Explain the only colored species in the reaction

The rate of a first-order reaction is followed by spectroscopy, monitoring the absorption of a colored reactant at 520 nm. The reaction occurs in a 1.48- cm sample cell, and the only colored species in the reaction has an extinction coefficient of..

  Explain the long-run perfectly competitive equilibrium

Illustrate with a diagram and explain the long-run perfectly competitive equilibrium for the firm and explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve.

  Find the price elasticity of demand at each of three prices

Is the apple pie market perfectly competitive? Why or why not? b. With this data, draw a graph of the linear demand curve for Granny's apple pies. c. Find the price elasticity of demand at each of of the three prices.

Reviews

Write a Review

 

Similar Q& A

  Prepare a bank reconciliation

The bank statement dated May 31, 2011, showed bank service charges of $38. All checks written by the company had been processed by the ank by May 31 and were listed on the bank statement except for checks totaling $1,890.0 Prepare a bank reconcili..

  What is the over or under absorbed overhead

How much overhead is allocated? What is the over/under absorbed overhead?

  What are the provisions in the sarbanes-oxley

What are the provisions in the Sarbanes-Oxley Act 2002 and the New York Stock Exchange listing requirements that are aimed at improving corporate governance and are directly related to audit committees?

  Investment to contract services

Do you think that it is a wise investment to contract services taht provide security agains fraud or should it be an in-house department?

  What are other areas where they may be fraud risk

Fraud is more than just the intentional misstatement of financial statements. What are other areas where they may be fraud risk that are perhaps not on the level of financial statement misstatement?

  Distinguish-debt security and equity security

Distinguish between a debt security and an equity security.

  Appropriate adjusting entry for vacations

No accrual entries have been made for the vacations. No over-time premium and no bonuses were paid during the period. Prepare the appropriate adjusting entry for vacations earned but not taken in 2011.

  Information on journal entries to record business

On Jan 1, 2002, Frost Company acquired all of TKK Corporation's assets and liabilities by issuing 24,000 shares of its $4 par value common stock. At that date, Frost shares were selling at $22 per share. Historical cost and fair value balance shee..

  How would you recommend the service department costs

Surf Beach State College (SBSC) has a business school with 3 products, undergraduate degrees, graduate degrees, and executive education. SBSC has 3 service departments, Computer Support, Career Development, and the Library.

  Discuss the tax aspects

Beige Company has approximately $400,000 in net income in 2008 before deducting any compensation or other payment to its sole owner, Janet (who is single). Assume that Janet is in the 35% marginal tax bracket. Discuss the tax aspects of each of th..

  Statements concerning capital structure weights

Which one of the following statements is correct concerning capital structure weights?

  Investment journal entries

Hobson acquires 40% of the outstanding voting stock of Stokes Company on January 1, 2008,for $210,000 in cash. The book value of Stokes' net assets on the date was $400,000, although one company's buildings, with a $60,000 carrying value, was actu..

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