Eastline Corporation had 10,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 3,000 shares. At the time of the stock dividend, the market value per share was $12. The entry to record this dividend is:
A. Debit Common Stock Dividend Distributable $36,000; credit Retained Earnings $36,000.
B. Debit Retained Earnings $36,000; credit Common Stock Dividend Distributable $30,000; credit Paid-In Capital in Excess of Par Value, Common Stock $6,000.
C. Debit Retained Earnings $36,000; credit Common Stock Dividend Distributable $36,000.
D. Debit Retained Earnings $30,000; credit Common Stock Dividend Distributable $30,000.
E. No entry is needed.
Answer: D
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Which of the following statements is true about the economy of Poland?
A. Poland's economy was the only economy in the European Union to grow during the global recession of 2008-2009. B. Poland is among the largest of the former communist countries that receive the least media coverage. C. During the 1970s and 1980s, Poland's economic success had been without precedent. D. The consensus decision-making system of Poland turns out to be too time-consuming in the new speed-based economy.
The critical factor "Dynamism" refers to which of the following agile methods critical factors?
A) Well matched to small products and teams. B) Simple design and continuous refactoring are excellent for highly dynamic environments but a source of potentially expensive rework for highly stable environments. C) Requires continuous presence of a critical mass of scarce experts. D) Thrives in a culture where people feel comfortable and empowered by having many degrees of freedom.
Bracken, Inc. uses the direct method to determine its cash flow from operations. During the year, it had sales revenue of $480,000. Its beginning Accounts Receivable balance was $48,000, and its ending Accounts Receivable balance was $64,000. Its cash collected from customers for the year was:
A. $464,000. B. $496,000. C. $480,000. D. $592,000.
Identify the accounting standard setting bodies for U.S. commercial, private not-for-profits, public not-for-profits, state and local governments, and the federal government.
What will be an ideal response?