Frenchroast Company earned net income of $95,000 during the year ended December 31, 2016.
On December 15, Frenchroast declared the annual cash dividend on its 2% preferred stock (par value, $128,000) and a $0.75 per share cash dividend on its common stock (65,000 shares).
Frenchroast then paid the dividends on January 4, 2017.
1. Journalize for Frenchroast the entry declaring the cash dividends on December 15, 2016.
2. Journalize for Frenchroast the entry paying the cash dividends on January 4, 2017.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Frenchroast Company earned net income of $95,000 during the year ended December 31, 2016. On December 15, Frenchroast declared the annual ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
A company's Cash account shows an ending balance of $4,200. Reconciling items included a bookkeeper error of $50 (a $550 check recorded as $600), two outstanding checks totaling $810, a service charge of $25, a deposit in transit of $280, and
Answers (1)
Besides the actual mortgage payment, which also factors into the monthly payment on a home? repair costs renters' insurance property taxes down payment
Answers (2)
Indigo Travel, Inc. sells tickets for a dude ranch excursion at Weeping T Ranch to Big City Corporation employees. The total package price to Big City Corporation employees is $144,000. Indigo Travel Inc.
Answers (1)
Ben wants to buy a new cell phone. Select the conditions that Ben should consider for this buying decision. the price of the cell phone Ben's age the number of sisters and brothers Ben has the amount of money Ben has to spend
Answers (1)
In determining whether or not to make an investment, good managers will make the investment only when: a. the marginal benefits are greater than the marginal costs. b. the marginal costs are only slightly greater than the marginal benefits. c.
Answers (1)
New Questions in Business
A firm has three different production facilities, all of which produce the same product ... While reviewing the firm's cost data, Jasmin, a manager, discovers that one of the plants has a higher average cost than the other plants and suggests
Answers (1)
Five jobs are waiting to be processed. Their processing times and due dates are given below. Using the shortestprocessing time dispatching rule, in which order should the jobs be processed?
Answers (1)
Acme Foods wants to make its chips saltier, but it doesn't want to spend more than it has to on salt. A sample of consumers are asked to compare its current chip (saltiness = 100) with saltier versions and to say whether the new version is saltier.
Answers (1)
Which of the following comparisons best isolates the impact of a change in activity on performance?
Answers (1)
If an investor anticipates an annual rental income from a leased property to be $400,000 dollars, this expected sum has a direct bearing on what the investor will pay for the property. This is an example of
Answers (1)