Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 07, 2024

General Motors is a car manufacturer based in the United States. General Motors declared a $0.70 cash dividend per share. The company has 230,000 shares

General Motors is a car manufacturer based in the United States.

General Motors declared a $0.70 cash dividend per share. The company has 230,000 shares authorized, 71,000 shares issued, and 68,000 shares of common stock outstanding.

The journal entry to record the dividend declaration would include?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

CPA Exam Review 2020 At Least Know This Auditing And Attestation

Authors: At Least Know This

1st Edition

1706038364, 978-1706038368

More Books

Students also viewed these Accounting questions

Question

★★★★★

Note that if Bonfiglio had borrowed money from a bank to pay the law firm, the bank would have had to comply with TILA. Why should the bank have to comply and not the law firm?

Answered: 1 week ago

Question

★★★★★

Refer to Exhibit 15-7 of Chapter 15 on fiscal policy. Using demand-side and supply-side fiscal theories, explain how a tax cut could either increase of decrease the price level?

Answered: 1 week ago

Question

★★★★★

=+ (b) Find a trifling set A such that every point in the unit interval can be represented in the form x + y with x and y in A.

Answered: 1 week ago

Question

★★★★★

A study of the PSA blood test for diagnosing prostate cancer in men (by R. M. Hoffman et al., BMC Family Practice, vol. 3, p. 19, 2002) used a sample of 2620 men who were 40 years and older. When a...

Answered: 1 week ago

Question

★★★★★

17. Which of the following transactions would decrease the acid-test ratio? a. Sold inventory costing $30,000 for $20,000 cash. b. Sold marketable securities costing $60,000 for $55,000 cash. c. Both...

Answered: 1 week ago

Question

★★★★★

Terry Shevlin recently opened Terrys Pub in the University District. Because of licensing restrictions, the only liquor he can sell is beer. The average price of beer at Terrys Pub is $5.00 per...

Answered: 1 week ago

Question

★★★★★

4. Relation between F and R. In our notes, we claim that F has an alternative expression (SSRR - SSRU)/#r F SSRU/(n - K) 1 ermitted where SSRR is the sum squared residuals from the restricted...

Answered: 1 week ago

Question

★★★★★

Why must crime scene notes be taken in pen in a hard-bound notebook? (note: there may be more then 1 correct answer) a. The lead from a pencil can be poisonous b. Spiral bound notebooks are just not...

Answered: 1 week ago

Question

★★★★★

The 20 kg block is subjected to a force of F 580 N acting at an angle of 35 and a force of F2 = 410 N acting in the negative x direction = while in contact with a smooth surface. Assume the box can...

Answered: 1 week ago

Question

★★★★★

What would be the result of the following code being executed? class Main { public static void main(String args) { System.out.println("Learning Java is fun"); } } a.) We would get an error as there...

Answered: 1 week ago

Question

★★★★★

For the beam shown, find the reactions at the supports and plot the shear-force and bending-moment diagrams. V1 = 700 lbf, V2=43 lbf/in, V3 = 8 in, and V4 = 6 in. v3 v2 v4 v4 Provide values at all...

Answered: 1 week ago

Question

★★★★★

(Appendices) Select a commonly used product, such as gasoline or milk, and track the prices of this product over a 20-year period by creating a line graph. Explain price increases and decreases based...

Answered: 1 week ago

Question

★★★★★

(Appendices) Search magazines, newspapers, and the Internet for advertisements. Collect or print out ads that offer the following: (a) something for nothing, (b) bonus for early reply, (c) offers of...

Answered: 1 week ago

Question

★★★★★

(Appendices) Brandon, age 32, is married and has a son, age one. Six months ago, Brandon purchased an individual health insurance policy covering the entire family. His son was recently diagnosed...

Answered: 1 week ago

Previous Question Next Question