User Account

All Pages

What is the effect of this property dividend

Assignment Help Financial Accounting
Reference no: EM132796911

Question - On December 1, 2016, Milan Company declared a property dividend of marketable securities to be distributed on December 31, 2016 to shareholders of record on December 15, 2016. On December 1, 2016, the trading securities had a carrying amount of P60,000 and a fair value of P78,000. What is the effect of this property dividend on 2016 retained earnings after all nominal accounts are closed?

a. 0

b. 18,000 increase

c. 60,000 decrease

d. 78,000 decrease

Reference no: EM132796911

Questions Cloud

What amount of current income tax liability should reported : Milan Company reported P9,000,000 income before provision for income tax. What amount of current income tax liability should be reported at year-end
What is pacific company cost of equity : Under the tax rate of 40%, an unlevered firm Pacific Company's WACC is currently 14 percent. The company can borrow at 6 percent.
How will you prepare children and their families : How will you prepare those children, their families, and the staff in your care in each competency? Be sure you provide specific details on each competency.
What amount should be reported as cash received on sale : The equipment had associated accumulated depreciation of $64,000. On a statement of cash flows, what amount should be reported as cash received on sale?
What is the effect of this property dividend : What is the effect of this property dividend on 2016 retained earnings after all nominal accounts are closed
What is the amount of cash received on the sale of equipment : Equipment with an original cost of $80,000 and a book value of $60,000 is sold at a loss of $6,000. What is the amount of cash received on the sale of equipment
What would be the return on the stock : The required return on the stock is 15%, and the market return is 10 percent. What would be the return on the stock
What weights should mv corporation use in its? wacc : Its common equity trades at $55 per? share, and the firm has 6.1 million shares outstanding. What weights should MV Corporation use in its? WACC?
What is pacific company cost of equity : Under the tax rate of 40%, an unlevered firm Pacific Company's WACC is currently 14 percent. The company can borrow at 6 percent.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Journalize the entry to record the amount of cash proceeds

On July 1, 20Y1, Danzer Industries Inc. issued $40,000,000 of 10-year, Journalize the entry to record the amount of cash proceeds from the issuance of bonds

  What was the cost of each acquisition

What was the cost of each acquisition? How was that cost allocated in each case? What amount of goodwill was recorded by each firm?

  Make advice on correct presentation of intangible assets

Do you have any problems if we do not account for the DTAs and DTLs and just account for the current tax liability? provide advice on the correct presentation

  Margin of safety percentage and variable expenses

Arthur Corporation has a margin of safety percentage of 25% based on its actual sales. The break-even point is $330,000 and the variable expenses are 45% of sales. Given this information, the actual profit is: (Do not round your intermediate calculat..

  Show the immediate impact of this sale on the balance sheets

Use T-accounts to show the immediate impact of this sale on the balance sheets of JPMorgan Chase and the Fed

  What is the future value of this investment at end of year

What is the future value of this investment at the end of year five if 9.59 percent per year is the appropriate interest (discount) rate?

  What is the postretirement benefit expense for 2020

Crane Co. provides the following information about its postretirement benefit plan for the year 2020.

  What is the amount of consolidated net income reported

On October 1, Year 5, Plant Company acquired 100% of the common stock of Seed Company. What is the amount of Consolidated Net Income reported

  Prepare the schedules showing amount and percentage change

ACC 302- Prepare the Schedules showing the amount and percentage change from 2008 to 2009 for the comparative income statements and the balance sheets

  Describe how adding a risk-free security

Describe how adding a risk-free security to modern portfolio theory allows investors to do better than the efficient frontier.

  When do recognize the revenue

If get contracted to paint a house in August, buy the paint in September, When do recognize the Revenue and when do recognize the Expenses?

  Calculate the total interest expense paid by best yield farm

Assume KIBOR to be 10%, 11.5%. 13% for the first three installments, calculate the total interest expense paid by Best Yield Farms in first three years.

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