On October 1, 2019, XBC Declared a Dividend to Its

question 159

Essay

On October 1, 2019, XBC declared a dividend to its common shareholders by issuing one share of YTC, preferred share, $.60 no-par (held as a long-term investment)for each of the 15,000 common shares of XBC.On the declaration date, the YTC shares were selling at $7 per share.The YTC shares originally were purchased by XBC at $9 per share; they were transferred to the XBC shareholders on January 30, 2000, when their quoted market price was $7.50 per share.Give the following entries for XBC:
(a)At date of declaration:
(b)At date of payment:

Understand the impact of different types of transactions on company’s cash position.

Develop ability to analyze and prepare statements of cash flows from provided financial data.

Understand the direct method for preparing the statement of cash flows.

Identify and calculate adjustments for various accounts to present accurate cash-based figures.

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A documentation method used in nursing that revolves around the patient's concerns, measures taken, and the outcomes.

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