A company originally issued 14,000 shares of $5 par value common stock at $12 per share. The board of directors declares a 14% stock dividend when the market price of the stock is $25 a share. Which of the following is included in the entry to record the declaration of a stock dividend?
A) Stock Dividends is debited for $24,500.
B) Common Stock—$5 Par Value is credited for $47,040.
C) Common Stock is credited for $49,000.
D) Stock Dividends is debited for $49,000.
D) Stock Dividends is debited for $49,000.
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Fill in the blank(s) with correct word
In systems buying, the US government often solicits bids from prime contractors. What do prime contractors do?
What will be an ideal response?
Which of the following would most likely be treated as an activity in an activity-based costing system?
A) direct labor cost B) machine processing C) direct materials cost D) sales revenues
If, at the end of a period, Michaels Company erroneously excluded some goods from its ending inventory and also erroneously did NOT record the purchase of these goods in its accounting records, these errors would cause
a. no effect on the company's net income, working capital, and retained earnings. b. the company's cost of goods available for sale, cost of goods sold, and net income to be understated. c. the company's ending inventory, cost of goods available for sale, and retained earnings to be understated. d. the company's ending inventory, cost of goods sold, and retained earnings to be understated.