Answer:
Explanation:
To answer this question comprehensively, we are expected to prepare the journal entries <u><em>(which is the act of making or keeping the records of any transactions either for non economic or for Economic purposes. The Transactions are scheduled in an accounting record book and it reveals a company's debit and credit balances.)</em></u> On December 31, 2019, May 11, 2020, and June 12, 2020.
kindly check the attached images below to get the diagram showing all the step by step journal entries we are to prepare.
Answer:
Explanation:
The statement of stockholder's equity comprises common stock and retained earnings. The ending balance after adjustment shown in the attached spreadsheet.
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
And, the ending balance of the common stock = Beginning balance of common stock + issued shares
Before preparing the statement of stockholders’ equity we need to calculate the net income or net loss as the case may be. The computation is shown below:
Net income = Sales revenue - cost of goods sold - operating expenses
= $780,800 - $519,000 - $88,800
= $173,000
The preparation of the statement of stockholders’ equity is presented in the spreadsheet. Kindly find the attachment below:
Answer:
Import restrictions are steps or measures employed by the government of a country to reduce the volume of import in a country.
A country can take different measures to restrict import popularly known as import control measures. The following are the most popular import restriction measures.
IMPORT RESTRICTION
1. Import duties
2. Import quota
3. Currency restriction
4. Import License
5. imports surveillance
Explanation:
1. Import duties
These are taxes levied on goods imported to make them less attractive. Import duties are also called custom duties. Import duties increases the prices of imported goods.
2. Import quota
Import quota is another import restriction measure employed by a country to reduce the quantity of imported products, either of a particular goods or from a particular trade partner. This measure ensures a certain import target is not exceeded.
3. Currency restriction
Since foreign currency is used for the payment for imports, a government who is embarking on trade restriction can restrict the supply of foreign currency to make payment for import a bit difficult, thereby reducing the quantity of import.
4. Import License
Another import restriction measure is for a country to embark on a policy that will require special license or a green light to allow the importation of certain commodity. This will go a long way to restrict import
5. imports surveillance
This is a measure that tracks import levels to control the desired level of import in a country.
Answer: $37000
Explanation:
The projected benefit obligation was underfunded at the end of 2021 by:
PBO December 31 = $276,000
Less: Pension plan assets (fair value) December 31 = $239,000.
Then, the projected benefit obligation was underfunded at the end of 2021 by ($276000 - $239000) = $37000
Answer: Competitive aggression is exploiting a distinctive competence or improving internal efficiency for competitive advantage. Your answer is D.