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December 21, 2014

Homework Help: accounting

Posted by ashley on Saturday, May 12, 2012 at 12:24am.

1.On December 15, 2012, Pascal declared a cash dividend of $2.00 per share to stockholders of record on December 31. The dividend is payable on January 15, 2013. Pascal has issued 1,000,000 shares of common stock, of which 50,000 shares are held in treasury.
2.At December 31, bonds payable of $100,000,000 are outstanding. The bonds pay 10% interest every September 30 and mature in installments of $25,000,000 every September 30, beginning September 30, 2013.
3.At December 31, 2011, customer advances were $12,000,000. During 2012, Pascal collected $30,000,000 of customer advances, and advances of $25,000,000 were earned.

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