The date on which a cash dividend becomes a binding legal obligation is on thea) payment day.b) declaration date.c) last day of the fiscal year-finish.d) day of record
Solaris, Inc. has 2,000 shares of 5%, $10 par worth, cumulative preferred stock and also 50,000 shares of $1 par value prevalent stock exceptional at December 31, 2020. What is the annual dividend on the wanted stock?a) $.05 per shareb)$10,000 in totalc) $1,000 in totald) $5 per share
The cumulative impact of the declaration and also payment of a cash dividend on a company"s balance sheet is toa) boost complete assets and stockholders" equity.b) decrease present liabilities and also stockholders" equity.c) rise present liabilities and stockholders" equity.d) decrease stockholders" equity and full assets.
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On the dividfinish record day,a) Dividends Payable is debited.b) a dividend becomes a current obligation.c) no enattempt is required.d) an entry may be compelled if it is a stock dividend
Dividends Payable is classified as aa) stockholders" equity account.b) existing licapacity.c) irreversible liability.d) contra stockholders" equity account to Retained Earnings.
Outstanding stock of the Larboy Corporation included 40,000 shares of $5 par common stock and also 10,000 shares of 5%, $10 par noncumulative preferred stock. In 2019, Larkid claimed and passist dividends of $4,000. In 2020, Larkid asserted and passist dividends of $12,000. How much of the 2020 dividend was distributed to desired shareholders?a) $5,000b) $7,000c) $6,000d) $12,000
A small stock dividfinish is identified asa) much less than 30% yet greater than 25% of the corporation"s issued stock.b) in between 50% and 100% of the corporation"s issued stock.c) much less than 20-25% of the corporation"s issued stock.d) more than 30% of the corporation"s issued stock
Identify the effect the declaration and also distribution of a stock dividfinish has actually on the par value per share.a) Increase or decreaseb) Decreasec) Increased) No effect
The declaration of a stock dividend willa) rise paid-in capital.b) readjust the complete of stockholders" equity.c) increase full assets.d) increase full liabilities.
A stock splita) will have no result on the par value per share of stock.b) might happen in the lack of preserved income.c) will increase full paid-in capital.d) will certainly increase the full par worth of the stock
Usual Stock Dividends Distributable is classified as a(n)a) price account.b) licapacity account.c) asset account.d) stockholders" equity account.
Which one of the adhering to events would not require a formal journal entry on a corporation"s books?a) $1 per share cash dividendb) 2 for 1 stock splitc) 2% stock dividendd) 100% stock dividend
A prior period adjustment that corrects revenue of a prior duration requires that an enattempt be made toa) an asset account.b) a present year revenue or cost account.c) the maintained earnings account.d) an revenue statement account.
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A net lossa) is not closed to Retained Earnings if it would certainly result in a debit balance.b) occurs if operating prices exceed cost of items offered.c) is closed to Retained Wages even if it would certainly cause a delittle bit balance.d) is closed to the paid-in funding account of the stockholders" equity area of the balance sheet.
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