On February 5, 2021, Festival Rental Corporations board of directors declared a dividend of $0.30, to be
Question:
On February 5, 2021, Festival Rental Corporation’s board of directors declared a dividend of $0.30, to be paid on March 18, 2021, to the shareholders of record as of the close of business on March 9, 2021. Festival has 5,000,000 shares of $0.01 par-value common stock authorized with 1,600,000 shares issued and outstanding. The company has no preferred stock. Record the declaration of the dividend and the payment of the dividend. Include the proper dates with each journal entry.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (7 reviews)
Journal DATE ACCOUNT TITLES AND EXPLANATION ...View the full answer
Answered By
Rinki Devi
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions.
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students.
I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and helped them achieve great subject knowledge.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
On February 15, Mite Corporations board of directors declared a 2 percent stock dividend applicable to the outstanding shares of its $10 par value common stock , of which 400,000 shares are...
-
On March 1, the board of directors declared a cash dividend of $0.75 per common share to shareholders of record on March 10, payable March 31. There were 125,000 shares issued and outstanding on...
-
On March 1, the board of directors declared a cash dividend of $0.70 per common share to shareholders of record on March 10, payable March 31. There were 127,000 shares issued and outstanding on...
-
During the software design phase, software engineers define details about the product construction, behavior, components, and interfaces. Explain how you can use the Unified Modeling Language (UML)...
-
A toy rocket is launched (from the ground) vertically upward with a constant acceleration of 30.0 m/s2. After traveling 1000 m, its engines stop. When it reaches the very top of its motion, it falls...
-
Why do you think that global capital flows were still significantly below their 2007 peak five years after the crisis hit? What are the implications of this for the ability of multinational firms to...
-
You design a new type of absorber that has a number of slanted plates with falling films on each plate and gas flowing counter to the liquid. In the laboratory, the new system works well. Its high...
-
Hagar Corporation has municipal bonds classified as available-for-sale at December 31, 2008. These bonds have a par value of $800,000, an amortized cost of $800,000, and a fair value of $720,000. The...
-
cobly corporation operates a manufacturing plant in wyoming due to significant decline in demand for the product manufactures at the wyoming cite, an impairment test is deemed appropriate. Management...
-
At the time he purchased his variable annuity, Ahmed directed $5,000 of his premium into Subaccount A when the unit value was $10. A year later, the unit value had increased to $15. Assuming he made...
-
Glenwood Corporation earned net income of $90,000 during the year ended December 31, 2021. On December 15, Glenwood declared the annual cash dividend on its 1% preferred stock (13,000 shares with...
-
Toyama Corporations 2021 financial statements reported the following information, with 2020 figures shown for comparison (adapted, and in millions): Use the DuPont Model to calculate Toyamas return...
-
Should the audit committee review design and operating effectiveness of internal controls? Do you think the audit committee is part of internal control?
-
Suppose that f(x+h)-f(x) = 6hx -6hx-4h2x-3h + 4h. Find f'(x). f'(x)= || X
-
Give financial analysis of this start-up company. Financial Statements Purple Cloud Projected Income Statement* Purple Cloud Projected Interim Income Statement For Year Ending December 31, 20XX...
-
You are a manager with Hodges Jones & Sylvia ( the Firm ) and a member of the Firm s audit team for the audit of Bravo Corporation ( the Company ) . One hundred percent of the outstanding common...
-
Comparative financial statement data for Carmono Company follow: Assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net...
-
Evaluate the role of non-coding RNAs, such as microRNAs and long non-coding RNAs, in post-transcriptional gene regulation, cellular differentiation, and disease pathogenesis, highlighting their...
-
Consider the elements selenium (Z = 34), bromine (Z = 35), and krypton (Z = 36). In their part of the periodic table, the sub shells of the electronic states are filled in the sequence 1s 2s 2p 3s 3p...
-
The Adjusted Trial Balance columns of a 10-column work sheet for Webber Co. follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by...
-
(a) Distinguish among the following bases of comparison: intracompany, intercompany and industry averages. (b) Give the principal value of using each of the three bases of comparison.
-
Two popular methods of financial statement analysis are horizontal analysis and vertical analysis. Explain the difference between these two methods. Discuss.
-
(a) If Lind Company had net income of $300,000 in 2011 and it experienced a 24.5% increase in net income for 2012, what is its net income for 2012? (b) If 6 cents of every dollar of Linds revenue is...
-
Bopha Ltd, a general construction company which is based in Limpopo, has a financial year end of 31 December. Bopha Ltd was in a process of constructing a new plant which was available for use on 1...
-
Question 5 (10 marks-30minutes) For each of the following independent situations discuss the type of audit opinion(s) to be issued, give your reason(s) and in each situation describe any changes...
-
Scampini Technologies is expected to generate $25 million in free cash flow next year, and FCF is expected to grow at a constant rate of 7% per year indefinitely. Scampini has no debt, preferred...
Study smarter with the SolutionInn App