User Account

All Pages

Prepare journal entries on the date of declaration

Assignment Help Accounting Basics
Reference no: EM132204934

Question - Pink Corporation has 40,000 P100 par, ordinary shares issued and outstanding. To please the stockholder's but at the same time conserve cash, its Board of Directors decided to declare a share dividend when the market price of the stock is P120.

Required: Prepare journal entries on the date of declaration and on the date of issuance assuming the share dividend declared is:

a. 15%

b. 30%

Reference no: EM132204934

Questions Cloud

About the article relating to human resource management : Explain how the article impacts your selecting HRM final project topic and provide your own conclusion about the article relating to Human Resource Management.
Determine taxable income in each of the instances : Book income of $152,000 including municipal bond interest of $4,000, Determine taxable income in each of the following instances
Describe step in the formal employment interview process : Which statement would LEAST describe a step in the formal employment interview process? Which BEST describes a problem identification meeting?
Prepare journal entries to record foregoing transactions : On January 1,2018 black corporation has the following equity accounts in its ledger: Prepare journal entries to record foregoing transactions
Prepare journal entries on the date of declaration : Pink Corporation has 40,000 P100 par, ordinary shares issued and outstanding. Prepare journal entries on the date of declaration and on the date of issuance
Predominant characteristic being nonintervention is called : The management style with the predominant characteristic being nonintervention is called
Responsibility for their actions have leadership quality : People who are willing to take responsibility for their actions have the leadership quality of.
The purpose of the selection step in employment process : In large organizations, the two types of authority typically found are. The purpose of the selection step in the employment process is to
Decision category called resource decisions : The decision category called "resource decisions" involves. A broker who reviews sociological factors in a market area would be analyzing.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Assume that production was 100000 units and sales were

boots r us produces a variety of products for the fashion industry cowboy type boots are among its most popular

  On january 1 2014 jay company had 10000 shares of 1 par

on january 1 2014 jay company had 10000 shares of 1 par common stock outstanding and 4000 shares of 100 par value 7

  What is necessity of analysis

Identify each of the financial statements, their main components, and their importance in financial reporting. What is Necessity of Analysis?

  Explain the development of abstract expressionism

Explain the development of Abstract Expressionism in post-World War II America

  The diamond freight company has been offered a seven-year

the diamond freight company has been offered a seven-year contract to haul munitions for the government. because this

  Find the work done in stretching the spring

A spring of natural length 12 in. requires a force of 6.0 lb to stretch it 2.0 in. See Fig. 26.64. Find the work done in stretching it 6.0 in. From Hooke's law, we find the constant for the spring, and therefore f(x)  as

  Prepare the journal entries to record the exchange on books

Prepare the journal entries to record the exchange on the books of both companies. Assume that the exchange lacks commercial substance

  Prepare the journal entry to record income taxes for prince

The tax liability from the tax return is $750,000. Prepare the journal entry to record income taxes for Prince Charming's first year of operations. Show well-labeled computations.

  What are reversing entries and why are they required

What are reversing entries and why are they required? What would happen if reversing entries were not made? What transactions might require reversing entries?

  Perform a swot analysis on your chosen organization

How is their growth? What is their mission statement? Do they seem to be following their mission? Who are their competitors? Perform a SWOT analysis on your chosen organization. Are they global?

  Calculate total book value of shares

How do you calculate total book value of shares before the dividend if the shareholder has 850 shares and book value per share is $38.18 ?

  What is the present value of the minimum lease payments

Sheridan Company leases an automobile with a fair value of $16,256 from John Simon Motors, Inc., on the following terms: Non-cancelable term of 50 months. What is the present value of the minimum lease payments? Record the lease on Sheridan Company's..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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