Answer:
Journal entry to eliminate Sale to Peter Company
Debit : Sales Revenue (Sally Company ) $50,000
Credit : Cost of Sales (Peter Company) $50,000
Explanation:
Peter Company and Sally Company are in a group and Peter Company is the Parent whilst Sally Company is the subsidiary.
For 2019 Eliminate an Intragroup Transactions that occur between Peter Company and Sally Company.
Answer:
35,000 stocks
Explanation:
Dividends can be either distributed in cash or distributed as new stock. In this case the company decided to issue stock instead of cash payments. Since the company has 500,000 outstanding and the board declared a 7% dividend, then 35,000 stocks should be issued (= 500,000 x 7%).
Whether shareholders receive money or stocks, they still have to include the dividends as part of their gross income.
Answer:
Social companionship
Explanation:
Social companionship is a type of friendship or relationship between individuals who share similar likes and benefit from each other as they feel a sense of closeness doing things they like together. Donovan and Keith, who share some similarities and likes between each other, provide social companionship to each other as they hang out together as fans of a club.
Answer:
Bill is also equally and somewhere more liable as he is the employer.
Explanation:
Although in records it might seem that George did the falsify act, but for that he required the permission of his employer.
When the fact is clearly stated that George did this on direction of his employer Bill, and that Bill demanded this intentionally in order to present extra profits, he is more liable for this false act.
As George is the employee, he is bound to follow the directions of his employer. Thus Bill is crucially liable for this act, as he is an important reason for this act.
Answer:
<em>16,800 dollars.</em>
Explanation:
<em>Overhead rate predetermined at availability.
</em>
= Approximate overhead processing times / Capacity machine hours.
= $33,600 / 24,000.
= $1.4 per hour on machine.
<em>Cost of Resources not used.
</em>
= (Machine hours at capacity - Actual machine hours) x Overhead speed estimated at load.
= ( 24,000 - 12,000) x $1.4.
= 16,800 dollars.
