On February 5, 2018 , Superb Rental Corporation's board of directors declared a dividend of $ 0.10 , to be paid on March 18, 2018 , to the shareholders of record as of the close of business on March 9, 2018. Superb has 5,500,000 shares of $ 0.01 par-value common stock authorized with 1,000,000 shares issued and outstanding. The company has no preferred stock.
Required:
1. Record the declaration of the explanations from any journal entries) dividend and the payment of the dividend. Include the proper dates with each journal entry.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On February 5, 2018 , Superb Rental Corporation's board of directors declared a dividend of $ 0.10 , to be paid on March 18, 2018 , to the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
If bonds are issued initially at a discount and the effective-interest method of amortization is used, interest expense in the earlier years will be: a. greater than if the straight-line method were used. b.
Answers (1)
Which of the following statements is most correct? A. KSFs are often necessary, but not sufficient for competitive advantage. B. KSFs are neither necessary nor sufficient for competitive advantage. C.
Answers (1)
Explain the difference between objectives and goals, and give examples of each.
Answers (1)
A big advantage of a process-oriented layout is A. the ability to employ low-skilled labor. B. the simplified scheduling problem presented by this layout strategy. C. its flexibility in equipment and labor assignments. D.
Answers (1)
High and unexpected inflation has a greater cost a. for those who save than for those who borrow. b. for those who hold a little money than for those who hold a lot of money. c.
Answers (2)
New Questions in Business
Who is following the law when it comes to protecting investors' funds? a financial planner who pitches a risk-free stock a mutual fund advisor who informs investors about risks a broker who sells CDs from nonfinancial institutions a realtor who
Answers (1)
Jared runs a personal training studio, earning $5,000 last month. His fixed costs are $4,000, and his variable costs are $3,500. Should Jared shut down his business immediately? a) Yes, because he is clearly losing money.
Answers (1)
On January 1, a company issues bonds dated January 1 with a par value of $600,000. The bonds mature in 3 years. The contract rate is 7%, and interest is paid semiannually on June 30 and December 31. The bonds are sold for $564,000.
Answers (1)
Partridge Co. can further process Product J to produce Product D. Product J is currently selling for $21 per pound and costs $15.75 per pound to produce. Product D would sell for $37 per pound and would require an additional cost of $9.
Answers (1)
What is the largest source of income for banks? a. the interest they receive from loans b. fees charged to customers for accounts c. money deposited in savings accounts d. special accounts such as NOW accounts
Answers (1)