Business, 13.12.2019 23:31 hallmansean04

On november 1, 2015, elli company declared a dividend of $3.00 per share. elli company has 20,000 shares of common stock outstanding and no preferred stock. the date of record is november 15, and the payment date is november 30, 2015. on november 30, elli made the following journal entry:

a) debit retained earnings $60,000 and credit dividends payable—common $60,000.
b) debit dividends payable—common $60,000 and credit cash $60,000.
c) debit cash $60,000 and credit dividends payable—common $60,000.
d) debit retained earnings $60,000 and credit cash $60,000.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 03:50

John is a 45-year-old manager who enjoys playing basketball in his spare time with his teenage sons and their friends. at work he finds that he is better able to solve problems that come up because of his many years of experience, but while on the court, he finds he is not as good keeping track of the ball while worrying about the other players. john's experience is:

Answers: 1

Answer

Business, 22.06.2019 08:10

Bakery has bought 250 pounds of muffin dough. they want to make waffles or muffins in half-dozen packs out of it. half a dozen of muffins requires 1 lb of dough and a pack of waffles uses 3/4 lb of dough. it take bakers 6 minutes to make a half-dozen of waffles and 3 minutes to make a half-dozen of muffins. their profit will be $1.50 on each pack of waffles and $2.00 on each pack of muffins. how many of each should they make to maximize profit, if they have just 20 hours to do everything?

Answers: 3

Answer

Business, 22.06.2019 15:20

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.

Answers: 1

Answer

Business, 22.06.2019 21:20

Which of the following best explains why buying a house is more beneficial than renting? a. buying is a personal investment while renting involves giving money to the landlord. b. the monthly payments on a mortgage are generally lower than rent on an apartment. c. it's easier to sell a house than it is to get a landlord to break a rental agreement. d. housing prices can go up and down quickly in comparison to the level of rents.

Answers: 1

Answer

You know the right answer?

On november 1, 2015, elli company declared a dividend of $3.00 per share. elli company has 20,000 sh...

Questions