The entry to close the dividends account at the end of the year is: Debit cash $5,200 and Credit dividends $5,200
<h3>What is a dividend?</h3>
Dividend is a form of payment made by the company to its existing shareholders, usually as a distribution of profits. It is a portion of company's earnings during the period being returned to their investors.
Dividends are means of both profit distribution and incentives for the investor who keeps on investing in the company.
The entries for dividend accounts are :
Debit cash $5,200
Credit dividends $5,200
Hence, the entry to close the dividends account at the end of the year is: Debit cash $5,200 and Credit dividends $5,200
Learn more about dividend here : brainly.com/question/25845157
Answer:
The Gold Division’s break-even sales is closest to $102,174
Explanation:
Break even point is the level of sales at which business has no profit no loss position. At this level of sales business covers all the variable and fixed costs as well.
Gold Division
Sales $131,000
Contribution margin $60,260
Contribution Margin Ratio 46%
Traceable fixed expenses $47,000
Break-even Sales $102,174
Common fixed cost will not be added in calculation of divisional break-even.
Working
Contribution margin ratio = Contribution margin / Sales = 60260 / 131,000 = 46%
Break-even Sales = Fixed cost of division / Contribution margin of division = $47,000 / 46% = $102,174
Answer:
Are not affected by the defaulting owner’s actions
Explanation:
In this particular question, we are trying to see what becomes of the remaining owners of a condominium if the owner defaults on his mortgage.
To answer this question properly, we need to understand and know what is meant by a Condominium. A condominium generally refers to a a particular building or a building complex with a number of individually owned apartments.
After this definition, we can clearly see that a condominium exists independently of the other owners. This means if you own a Condominium, it practically means you’re responsible for whatever contract that defines your ownership and in no particular way have any business with the other independent owners of other units. This is so because, they have their own guiding laws to deal with. Hence, whatever happens, everyone would be made to give account on whatever part of the properties he own with absolutely no reference to the properties of the other members
