Based on the information given the net income for the year will be is : $2.9 million.
<h3>Net income</h3>
Using this formula
Net income=Dividend declared-Decrease in Ending Retained earning
Where:
Dividend declared=$4.4 million
Decrease in Ending Retained earning=$1.5 million
Let plug in the formula
Net income=$4.4 million-$1.5 million
Net income=$2.9 million
Inconclusion the net income for the year will be is : $2.9 million.
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Answer:
D
Explanation:
The self determination theory is a theory of motivation that examines extrinsic and intrinsic motivation.
The theory states that humans have innate needs. If this needs are satisfied, humans would grow and function optimally. They include :
1. Autonomy - the desire to be in charge of one's life. It is the feeling of intrinsic motivation, in which workers perceive their work to have meaning and perceive themselves to be competent, having an impact, and capable of self-determination
2. Relatedness - the desire to relate and interact with other people.
3. Competence. This is the desire to achieve mastery.
Autonomy is when
Answer:
Allocated MOH= $4,000
Explanation:
Giving the following information:
Machine hours used 1,000 hours
If total manufacturing overhead costs during the month totaled $100,000 when a total of 25,000 machine hours were used
First, we need to calculate the estimated overhead rate:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 100,000/25,000= $4 per machine hour
Now, we can allocate overhead to Product 95:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 4*1,000= $4,000
Assets to decreases and stockholders' equity to decrease due to the adjusting entry used to record the allowance for doubtful accounts.
Allowance for doubtful accounts also known as contra account nets against the total receivables shown on the balance sheet to only show the amounts anticipated to be paid. The percentage of accounts receivable that are anticipated to be uncollectible is estimated by the allowance for doubtful accounts.
The danger of not being paid is always inherent in a credit-based transaction, regardless of the corporate rules and procedures for credit collections. As a result, a business must recognize this risk by creating an allowance for doubtful accounts and offsetting bad debt expenditure.
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