Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

On July 10, 2007, Greco Co. declared its annual cash dividend on common stock for the year ended June 30, 2007. The dividend was paid on August 12, 2007, to shareholders of record as of July 25, 2007. On what date should Greco decrease the liability account by the amount of the dividend?

a) July 10, 2007

b) June 30, 2007.

c) August 12, 2007

d) July 25, 2007

 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M948657

Have any Question? 


Related Questions in Accounting Basics

Question - lucky treasures enterprises issued 9 8-year

Question - Lucky Treasures Enterprises issued 9%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2013 and are issued on that date. The discount ra ...

Question - a 13-year annuity pays 2800 per month and

Question - A 13-year annuity pays $2,800 per month, and payments are made at the end of each month. The interest rate is 12 percent compounded monthly for the first seven years, and 10 percent compounded monthly thereaft ...

Question - during 2017 crimson inc purchased 2775000 of

Question - During 2017, Crimson Inc. purchased $2,775,000 of inventory. The cost of goods sold for 2017 was $2,635,938 and the ending inventory at December 31, 2017 was $544,688. What was the inventory turnover for 2017?

Question - nuthatch corporation began its operations on

Question - Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business-September, October, and November-are $245,000, $303,000, and $400,000, respec ...

Question - hillary clinton is the vice president of finance

Question - Hillary Clinton is the Vice President of Finance for Trump Industries. At a recent finance meeting, Hillary made the following statement: "the managers of a company should use the same information as the share ...

Question - for sunland co beginning capital balances on

Question - For Sunland Co., beginning capital balances on January 1, 2020, are Nancy Payne $18,900 and Ann Dody $24,000. During the year, drawings were Payne $8,700 and Dody $5,200. Net income was $28,700, and the partne ...

Question - equipment purchased by park consultancy for

Question - Equipment purchased by Park Consultancy for $38,220 on January 2, 2019, has an estimated useful life of 10 years and an estimated salvage value of $2,700. What adjustment for depreciation should be recorded on ...

Question - on january 1 2017 pina corporation sold a

Question - On January 1, 2017, Pina Corporation sold a building that cost $258,210 and that had accumulated depreciation of $105,500 on the date of sale. Pina received as consideration a $248,210 non-interest-bearing not ...

Question - in 2017 wildhorse corporation had net cash

Question - In 2017, Wildhorse Corporation had net cash provided by operating activities of $569,000, net cash used by investing activities of $965,000, and net cash provided by financing activities of $592,000. At Januar ...

Question - internet assignment search the internet an

Question - Internet Assignment Search the Internet (an entity's website) and find an audit report of the entity's audit of internal control over financial reporting. Determine the following: 1. Did the entity used the co ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As