hilton worldwide (HLT) stock is trading at $21.35 per share, just paid an annual dividend of $0.28 per share, and has a 5% dividend growth rate. Intercontinental Hotels Group (IHG) is trading at $38.23, just paid an annual dividend of $0.55, and has a 4% dividend growth rate. What is the implied rate of return on HLT

The journal entry is as follows:

Explanation:

Given that,

Barton and Barton company's inventories were $32.6 million at December 31st, 2017

But the records of B and B's company indicated that inventories would have totaled $24.1 million  December 31st, 2017

Therefore, the journal entry for the adjustment in the records of B and B's company in 2018 is as follows:

                                             Debit                  Credit

Retained Earnings A\c       $8.5 million

To Inventory                                                      $8.5 million

Retained Earnings = $32.6 million - $24.1 million

                               = $8.5 million