Answer:
They will have an Exogamous marriage.
Explanation:
Exogamous is a custom of marrying outside own social group or class. These marriage is based on personal choices rather than culture, language, caste, religion, class etc. Exogamous is not widely acceptable across different culture and society.
There are cultures which have penalty or punishment for Exogamous marriage. Endogamus is opposite of Exogamous, where it is mandatory to marry within one´s own group, class etc.
In this case, cate is a daughter of rich father, however Harry is a poor farmer. They belong to different class of society, yet they are planning June wedding. Therefore, we can say they will have an Exogamous marriage.
Answer:
The accounting entries is as follows:
Debit Retained Earnings($35 by 30,000 shares) $1,050,000
Credit: Common Shares Account at Par Value($1 by 30,000 shares) $30,000
Credit Share Premium Account for Additional Paid in Capital ($34 by 30,000) = $1,020,000
Explanation:
A stock dividend is payment to shareholders by the company in the form of additional shares rather than dividend payment. This is common where the company is short of liquid funds to effect payment of dividends to its shareholders. They are usually issues in the form of fractions of existing holdings. Stock dividend increases the overall share holdings of the shareholder.
For Stock Dividend, the accounting entry is to transfer from the Retained Earnings to the Share Account and Share Premium or Additional Capital account.
The Share account is credited with the par value of the additional shares issued while the difference between the par value and the market value is credited to the Share Premium account. The full amount of the stock dividend is likewise debited to the Retained Earnings account.
<span>A bank is legally required to hold a fraction of its deposits as required reserves. These regulations are a requirement and set by most banks around the world. They set minimum amounts that must be held all the type to serve as a reserve in case of an </span>emergency.
Answer:
The answer is:
b. $112,550
Explanation:
Please find the below for detailed explanations and calculations:
- Beginning Inventory as given at: $94,000;
- Inventory purchased during the year = Net purchase during the year -Discount made on net purchase + Freight-in charges = (400,000 -5,000) - [ (400,000 -5,000) x 1%) + 7,500 = $398,550; ( as $5,000 purchase is returned on the initial purchase of $400,000 and 1% discount is only made on the net purchase of $395,000 ( $400,000 - $5,000) ).
- Cost of good sold during the year as given at: $380,000;
=> <u>Ending inventory = Beginning inventory + Inventory purchased during the year - Cost of good sold during the year = 94,000 + 398,550 - 380,000 = $112,550.</u>
