Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. marinelli corporation has $50,000 to pay out in di

Marinelli Corporation has $50,000 to pay out in dividends. On June 15 they declare a...

90.2K

Verified Solution

Question

Accounting

  1. Marinelli Corporation has $50,000 to pay out in dividends. On June 15 they declare a $1.50 per share dividend on their 16,000 preferred shares and the remainder will be paid out to their 52,000 common shares.
  1. Record the journal entry on June 15 when the dividend is declared.
  2. Record the journal entry on June 30 when the dividend is paid.
  3. What would be the dividend per share on the common shares?

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

Biology
1.2K views

Temperature Anomaly 0 12 ON 00 02 1000 Global Surface Tempera Four independant data sources...

Accounting
1.2K views

Due to erratic sales of its sole product—a high-capacity battery for laptop computers—PEM, Inc., has been...

Physics
1.2K views

12 An intravenous infusion is made under gravity If the fluid to be delivered has...

Physics
1.2K views

The two pulley arrangements shown in the figure are identical The mass of the rope...

Basic Math
1.2K views

Name the set of numbers to which ?25 does NOT belong.N = natural numbers Q...

Calculus
1.2K views

Skis that regularly sell for 329 99 are marked down in price by 25 The...

Algebra
1.2K views

25 3 12 48 192 Find formula of the geometric sequence recursin 3 12 48...

Accounting
1.2K views

John, a calendar-year taxpayer subject to a 34 percent marginal tax rate, claimed a charitable-contribution...

Accounting
1.2K views

Blossom Legler requires an estimate of the cost of goods lost by fire on March...

Accounting
1.2K views

Pronghorn Inc., a major retailer of bicycles and accessories, operates several stores and is a...

Accounting
1.2K views

help pls Covan Company has a production process that...

Accounting
1.2K views

credit card details by acting as a trustworthy entity in an electronic communication is calle...