Journalize the dividends transactions

Assignment Help Accounting Basics
Reference no: EM132630008

Question - Talaat Corporation had retained earnings at January 1, 2017, of $950,000.

The Corporation had 500,000 shares of $ 2.5 par value common stock outstanding throughout 2017. Net income for 2017 was $520,000. The following transactions occurred during 2017:

July 1 A cash dividends of $0.5 per share was declared to stockholders of record on July 20.

Aug. 1 Paid the cash dividends.

Nov. 1 A 7% stock dividends was declared. The market price at the declaration date was $9 per share.

Dec. 15 Distributed the stock dividends shares.

Required -

1. Journalize the 2017 dividends transactions.

2. Calculate a retained earnings statement?

Reference no: EM132630008

Questions Cloud

Explain independent and dependent inventory category : -Kindly explain independent and dependent inventory category items are and also give examples if possible
Impact on the operational performance : With reference to the BPO industry, identify and discuss the main operations related activities that may pertain to the industry
Identifying a market for a new business : -How would you go about identifying a market for a new business? What are its most frequent uses and most effective uses?
Explain how various levels of culture affect messaging : Explain how various levels of culture affect messaging. How have different levels of culture within an organization affected how you either used
Journalize the dividends transactions : The Corporation had 500,000 shares of $ 2.5 par value common stock outstanding throughout 2017. Journalize the dividends transactions
Determine the cpk value of the process : a. Determine the Cpk value of the process. b. Roughly what proportion of bottles meet the specifications (research required)?
Determine the upper and lower control limits of the chart : Forty samples of size 5 each were taken from a fertilizer-bag-filling machine (standard deviation of the population is unknown).
Make dividends transactions a retained earnings statement : Question - Talaat Corporation had retained earings at January 1, 2017, of $950,000. Make the 2017 dividends transactions a retained earnings statement
What limits on national power can be derived from amendment : The U.S. government's expansive role in public policy is caught in a swirl of conflicting cross-currents. On the one hand, popular expectations about.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What section of the code did lydia most likely violate

The staff member was a recent college graduate. What section of the code did Lydia most likely violate

  Prepare exercise is set up as an excel spreadsheet

The exercise is set up as an excel spreadsheet. It is answered on CourseHero differently, which is not correct. Can you please clarify?

  Auditing and current emerging issues

Research ethics and professionalism in accounting and auditing and current emerging issues. Write a two-page paper that discusses the impact that regulations

  Knowledge capital experience

Why does knowledge capital experience increasing returns at the economy level while physical capital experiences decreasing returns?

  Firmount inc a developer of radiology equipment has stock

fairmount inc. a developer of radiology equipment has stock outstanding as follows 23000 shares of cumulative 4

  What is schmidt taxable income

During the current year, schmidt corporation has operating income of $75,000, and a net capital loss of $25,000. What is schmidt's taxable income

  Tronix corporation was started with the issue

Tronix Corporation was started with the issue of 2,000 shares of $5 par stock for cash on January 1, 2013.

  Calculate a variable rate for the maintenance department

Calculate the allocated fixed cost for each using department based on its budgeted peak month usage in maintenance hours

  Discuss methods of evaluation of the learning experience

Discuss Methods of Evaluation of the Learning Experience,How this Independent Study will Help the Student Meet Those Goals

  Analyze the one-year financial impact of outsourcing

Question - Incremental Analysis of Outsourcing Decision. Analyze the one-year financial impact of outsourcing grounds maintenance

  What is the adjusted cash balance on june

What is the adjusted cash balance on June 30? Balance per bank statement, May 31 1,300,000 Balance per book - May 31 1,405,000

  4wheelco a foreign corporation manufactures motorcycles for

4.wheelco a foreign corporation manufactures motorcycles for sale worldwide. wheelco markets its motorcycles in the

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