Your friend Cindy bought 100 shares of ABC Inc. stock on January 20th at $12.05 per share. ABC Inc. declared a $0.60 per share dividend on February 24th, with a record date of Friday, March 24th, and a payment date of April 15th. Cindy sold her 100 shares on Wednesday March 22nd at a price of $13.80 per share. According to the current TSX rules, ex-dividend date is one business day prior to the record date, how much would Cindy make on this investment? $115 $147 $175 $235 $117 13 O Search D
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- Kathy Snow wishes to purchase shares of Countdown Computing, Inc. The company's board of directors has declared a cash dividend of $0.80 to be paid to holders of record on Wednesday, May 12. a. What is the last day that Kathy can purchase the stock (trade date) and still receive the dividend? b. What day does this stock begin trading ex dividend? c. What change, if any, would you expect in the price per share when the stock begins trading on the ex dividend day? d. If Kathy held the stock for less than one quarter and then sold it for $39 per share, would she achieve a higher investment return by (1) buying the stock prior to the ex dividend date at $35 per share and collecting the $0.80 dividend or (2) buying it on the ex dividend date at $34.20 per share but not receiving the dividend?Kathy Snow wishes to purchase shares of Countdown Computing, Inc. The company's board of directors has declared a cash dividend of $1.13 to be paid to holders of record on Wednesday, Sep. 21. a. What is the last day that Kathy can purchase the stock and still receive the dividend? b. What day does this stock begin trading ex dividend? c. What change, if any, would you expect in the price per share when the stock begins trading on the ex-dividend day? d. Kathy believes that she will be able to sell the stock for $46.92 in a few months. Tomorrow is the ex-dividend date, and the stock price now is $42.92. Is she better off buying the stock now so she can capture the dividend, or should she wait until tomorrow, miss the dividend, and buy the stock at a slightly lower price?Prepare Riley Company’s journal entries to record the following transactions for the current year. Apr. 18 Purchases 300 common shares of XLT Co. as a short-term investment at a cost of $42 per share. With this stock investment, Riley has an insignificant influence over XLT. May 30 Receives $1 per share from XLT in dividends.
- On May 27, Mama Mia Inc. reacquired 78,000 shares of its common stock at $8 per share. On August 3, Mama Mia sold 53,000 of the reacquired shares at $11 per share. On November 14, Mama Mia sold the remaining shares at $6 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.16. During Year One, Hancock Corporation buys 2,000 shares of Waltz Inc. for P34 per share. Hancock appropriately records this acquisition as an investment in trading securities because it plans to make a sale in the near future. In December of Year One, Waltz pays a P1 per share cash dividend to its owners. On the last day of December, the stock is selling on a stock exchange for P39 per share. What is the impact of these events on the income reported by Hancock for Year One? O a. No effect O b. Increase of P2,000 c. Increase of P10,000 d. Increase of P12,000On May 27, Buzz Off Inc. reacquired 76,000 shares of its common stock at $8 per share. On August 3, Buzz Off sold 51,000 of the reacquired shares at $11 per share. On November 14, Buzz Off sold the remaining shares at $6 per share.Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.May 27 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 Aug. 3 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 Nov. 14 fill in the blank 17 fill in the blank 18 fill in the blank 20 fill in the blank 21
- Fiber Corporation declared a dividend of $.90 per share on April 20th to holders of record as of Monday, May1st. The dividend is payable on June 1st. You purchased 100shares of this stock on Wednesday, April 26th. How much dividend income will you receive on June 1st as a result of his declaration? A)$0 B)$2.25 C)$9.00 D)$22.50 E)$90.00Accounting Abco Corporation declared a $5 per share dividend on September 15. The date of record for the dividend was October 1 (the stock began selling ex-dividend on October 2). The dividend was paid on October 15. Jonas is a cash-method taxpayer. Determine if he must include the dividends in gross income under the following circumstances: Jonas bought 100 shares of Abco stock on September 10 for $40 per share. He received a $500 dividend on October 15. Jonas still owns the shares at year-end. Jonas bought 100 shares of Abco stock on August 22 for $40 per share. Jonas sold his Abco shares on October 5 for $50 per share. Jonas received the $500 dividend on October 15 (note that even though he didn't own the stock on October 15, he still received the dividend because he was the shareholder on the record date). Jonas bought 100 shares of Abco stock for $64 per share on August 10. He received the $100 dividend on October 15. Jonas still owns the shares at year- end.On August 1, Shamrock Finance Inc. buys 2,500 Datawave common shares for trading purposes for $95,000 cash. On October 15, Shamrock receives a cash dividend of $2.35 per share from Datawave. On December 1, Shamrock sells the shares for $100,000 cash. Prepare the journal entry to record the purchase of the shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Aug. 1 Investment in Associate Cash (To record purchase of investment.) Date Account Titles and Explanation Oct. 15 Prepare the journal entry to record the receipt of the dividend. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Cash Gain on Fair Value Adjustment-FVTPL (Collection of dividend.) Dec.…
- Zuri has 112 shares of company LMN stock. LMN issued dividend payments every quarter that totaled $1.16 per share. How much dividend income will Zuri have earned for the entire year from these shares of LMN stock? Round your answer to the nearest penny. Input just the number. Do not input the dollar sign. Do not use a comma. Example: 1021.57Karen Noonan opened Sage Hill Cleaning Services Inc. on February 1, 2022. During February, the following transactions were completed: Feb. 1 Issued 4,100 shares of Sage Hill Cleaning Services common stock for $10,660. Each share has a $1.50 par. 1 Borrowed $6,560 on a 2-year, 6% note payable. 1 Paid $7,400 to purchase used floor and window cleaning equipment from a company going out of business ($3,950 was for the floor equipment and $3,450 for the window equipment). 1 Paid $180 for February Internet and phone services. 3 Purchased cleaning supplies for $800 on account. 4 Hired 4 employees. Each will be paid $390 per 5-day work week (Monday- Friday). Employees will begin working Monday, February 9. 5 Obtained insurance coverage for $8,070 per year. Coverage runs from February 1, 2022, through January 31, 2023. Karen paid $2,018 cash for the first quarter of coverage. Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to…Dakota Skye opened Clean 4 U, Inc. on March 1, 2023. During March, the following transactions were completed: Mar. 1 Issued 5,000 shares of Clean 4 U, Inc. Common Stock for $15,000. Each share has a $1.50 par. 1 Paid $250 to BeamSpeed for internet and phone service for March. 1 Borrowed $8,000 on a 2-year, 7.4% note payable. 2 Paid $9,500 to purchase used floor and window cleaning equipment from a company going out of business ($4,850 was for the floor equipment and $4,650 for the window equipment). 3 Discussions with an insurance agent indicated that providing outside window cleaning services would cost too much to insure. Dakota sold the window cleaning equipment for $4,485 cash. 3 Negotiated insurance coverage at a yearly rate of $12,840. Clean 4 U paid $3,210 cash for three months of coverage. 3 Hired 5 employees. Each will be paid $650 per 5-day work week (Monday-Friday). Employees will begin…
