Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 20) hutter corporation declared a $0.50 per share

20) Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The...

90.2K

Verified Solution

Question

Accounting

image
20) Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 42,000 shares authorized, 22,200 shares issued, and 16,800 shares of common stock outstanding. The journal entry to record the dividend declaration is: A) Debit Retained Earnings $8400; credit Common Dividends Payable $8400. B) Debit Common Dividends Payable $8400; credit Cash $8400. C) Debit Common Dividends Payable $11,100; credit Cash $11,100. D) Debit Retained Earnings $11,100; credit Common Dividends Payable $11,100. E) Debit Retained Earnings $21,000; credit Common Dividends Payable $21,000. 21) A company's board of directors votes to declare a cash dividend of $1.30 per share of common stock. The company has 26,000 shares authorized, 21,000 issued, and 20,500 shares outstanding. The total amount of the cash dividend is: C) S32,800. - A) $53,950. B) $33,800. D) $26,650. E) $27,300

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

discuss on COSO and COBIT frameworks for Internal controls

Physics
1.2K views

Two equal and oppositely charged particles are kept at some distance apart from each other...

Basic Math
1.2K views

tudent PlayerHomework aspx homeworkId 64382 ews Translate mework Ques The letters x and y represent...

Basic Math
1.2K views

Determine which symbol belongs in the blank to make the statement true.{-1,0,7} _{0,8,- 1,6,7}

Basic Math
1.2K views

A box contains ten cards labeled Q, R, S, T, U, V, W, X, Y,...

Algebra
1.2K views

X Check 20x 25x X Check x 14x 33 0

Algebra
1.2K views

ame PopQuiz 3 Prof Rudy Meangru Use the definition of derivative f x lim f...

Accounting
1.2K views

Thornton Manufacturing Company set its standard variable manufacturing cost at $25 per unit of product....

Accounting
1.2K views

PAT Comprehensive Problem 2: Accounting Cycle with Subsidiary Ledgers, Part 1 During the second half...

Accounting
1.2K views

generally DISCUSSION QUESTION #1 (8 points) Discuss the balance sheet in detail

Finance
1.2K views

What are the terms of the credit and interest of CITIBANK? Explain.

Accounting
1.2K views

Selling price per unit $80 Variable cost $ 25 Determine standard deduction given