Before preparing financial statements for the current year, the chief accountant for Oriole Company discovered the following errors in the accounts.

1. The declaration and payment of $47,000 cash dividend was recorded as a debit to Interest Expense $47,000 and a credit to Cash $47,000.
2. A 10% stock dividend (1,100 shares) was declared on the $10 par value stock when the market price per share was $19. The only entry made was Stock Dividends (Dr.) $11,000 and Dividend Payable (Cr.) $11,000. The shares have not been issued.
3. A 4-for-1 stock split involving the issue of 354,000 shares of $5 par value common stock for 91,750 shares of $20 par value common stock was recorded as a debit to Retained Earnings $1,835,000 and a credit to Common Stock $1,835,000.

Required:
Prepare the correcting entries at December 31.

Answer:

Oriole Company

Correcting Journal Entries:

1. Debit Dividends $47,000

Credit Interest Expense $47,000

To correct the error.

2. No corrections required

3. Debit Common Stock $1,835,000

Credit Retained Earnings $1,835,000

To correct the error.

Explanation:

a) Data and Analysis:

1. Dividends $47,000 Interest Expense $47,000

2. No corrections required

3. Common Stock $1,835,000 Retained Earnings $1,835,000

b) When a stock split is done, there is no journal entry involving an amount of money.  What is recorded is just a memo entry.  The memo entry serves to notify that the number of Oriole shares and the par value per share have changed to reflect the reality.

Which of the following choices represents two consumers?
A grass and grasshopper
B.rabbit and dog
C. mushroom and frog
D.turtle and flower


I need help ASAP​

A pharmaceutical company in Belgium decides to expand into additional markets. It conducts research and decides to focus on marketing and delivering its products to Hungary and the Czech Republic. In order to be successful, the company recognizes it must translate its marketing, product instructions, and packaging into the local languages. In addition, the company decides to partner with local advertising companies to make sure its marketing and advertising is customized to fit the preferences of the local markets. The pharmaceutical company has chosen to use which type of marketing strategy to expand globally?
a. centralization strat
b. localization strat
c. standardization strat

Pension data for David Emerson Enterprises include the following:_______.
($ in millions)
Discount rate, 12%
Projected benefit obligation, January 1 $ 350
Projected benefit obligation, December 31 485
Accumulated benefit obligation, January 1 320
Accumulated benefit obligation, December 31 435
Cash contributions to pension fund, December 31 170
Benefit payments to retirees, December 31 58
Required:
Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31.
Service cost million