record date

Examples of record date in the following topics:

• Defining Dividends

  • On this day, a liability is created and the company records that liability on its books; it now owes the money to the stockholders.
  • The board will also announce a date of record and a payment date.
  • After this date the stock becomes ex-dividend.
  • Ex-dividend date (typically two trading days before the record date for U.S. securities) is the day on which all shares bought and sold no longer come attached with the right to be paid the most recently declared dividend.
  • Record date refers to the date that shareholders must be registered on record in order to receive the dividend.

• Dividends Payable

  • On the dividend declaration date, a company's board of directors announces its intention to pay a dividend to shareholders on record as of a certain date (date of record).
  • Dividends payable is recorded as a current liability on the company's books; the journal entry confirms that the dividend payment is now owed to the stockholders.
  • On the declaration date, the Board announces the date of record and a payment date; the payment date is the date when the funds are sent to the shareholders and the dividends payable account is reduced for the payment amount.
  • Companies that declare dividends must record a liability for the amount of the dividends that will be paid to investors.

• Posting

  • Posting is recording in the ledger accounts the information contained in the journal.
  • Carrying out of these instructions is known as posting, a procedure that takes information recorded via journal entries (or journalizing) in the General or Special Journals and transfers it to the General Ledger.
  • When posting the general journal, the date used in the ledger accounts is the date the transaction was recorded in the journal, not the date the journal entry was posted to the ledger accounts.
  • All transactions made by the company in relation to the bond must be recorded in its general ledger.

• Bonds Payable and Interest Expense

  • Journal entries are required to record initial value and subsequent interest expense as the issuer pays coupon payments to the bondholder.
  • On 2010 December 31, the date of issuance, the entry is:
  • To record periodic interest payment.
  • For example, assume the Valley bonds were dated 2010 October 31, issued on that same date, and pay interest each April 30 and October 31.
  • Summarize how a company would record the original issue of the bond and the subsequent interest payments

• Assessing Fair Value

  • A company initially records the "available for sale securities" at cost.
  • The original investment is recorded at its investment cost.
  • This is fair value on the purchase date.
  • account (the new fair value) and the old fair value, are recorded in net income.
  • A company initially records the "available for sale securities" at cost.

• Redeeming at Maturity

  • The journal entry to record the retirement of a bond: Debit Bonds Payable & Credit Cash.
  • A maturity date is the date when the bond issuer must pay off the bond.
  • As long as all due payments have been made, the issuer has no further obligations to the bondholders after the maturity date.
  • How the sale of a bond is recorded on a company's books depends on how the debt is initially classified by the acquiring investor.
  • Explain how to record the retirement of a bond at maturity

• Inputs to Accounting

  • Some data commonly included in journal entries are: journal entry number; batch number; type (recurring vs. nonrecurring); amount of money, name, auto-reversing; date; accounting period; and description.
  • The balance sheet is a statement showing net worth on a particular date.
  • Bookkeeping is the recording of financial transactions.
  • The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies.
  • The general ledger should include the date, description, and balance or total amount for each account.

• Carbon Dating and Estimating Fossil Age

  • Paleontologists rely on stratigraphy to date fossils.
  • Stratigraphy is the science of understanding the strata, or layers, that form the sedimentary record.
  • Misleading results can occur if the index fossils are incorrectly dated.
  • Beds that preserve fossils typically lack the radioactive elements needed for radiometric dating ("radiocarbon dating" or simply "carbon dating").
  • The half-life of carbon-14 is 5,730 years, so carbon dating is only relevant for dating fossils less than 60,000 years old.

• Recognition of Revenue at Point of Sale or Delivery

  • Companies can recognize revenue at point of sale if it is also the date of delivery or if the buyer takes immediate ownership of the goods.
  • Goods sold, especially retail goods, typically earn and recognize revenue at point of sale, which can also be the date of delivery if the buyer takes immediate ownership of the merchandise purchased.
  • The accrual journal entry to record the sale involves a debit to the accounts receivable account and a credit to the sales revenue account; if the sale is for cash, the cash account would be debited instead.
  • For goods shipped under FOB destination, ownership passes to the buyer when the goods arrive at the buyer's receiving dock; at this point, the seller has completed the sales transaction and revenue has been earned and is recorded.

• African Art

  • The oldest African art dates to the Mesolithic and late Upper Paleolithic boundary and includes mostly rock-art.
  • Due to a lack of written records from this time period, nearly all of our knowledge of Paleolithic human culture and life comes from archaeology and ethnographic comparisons to modern hunter-gatherer cultures.
  • The oldest African art is dated to the Mesolithic and late Upper Paleolithic boundary, about 10,000 to 12,000 years ago.
  • However, the vast majority has been dated to the early Neolithic period.
  • Some 20,000 individual rock paintings have been recorded at 500 different caves and overhanging sites between the Drakensberg Royal Natal National Park and Bushman's Neck.