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Zarrin [17]
3 years ago
5

In many states, the minimum amount that stockholders must contribute to the corporation, and which is intended to protect the cr

editors of the corporation, is called the:
Business
1 answer:
Veseljchak [2.6K]3 years ago
4 0
<span>Answer: Minimum legal capital Explanation: The primary intention of minimum legal capital was to create a reserve amount that could be accessed by a company in case of default. Minimum legal capital is the par value of common stock and the stated value of the preferred stock that a business has sold or otherwise issued to investors.</span>
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Beta Corporation wrote off $100,000 due from a specific client in March 2011. However, this client was able to make a Partial pa
Otrada [13]

Answer:

Option D Allowance for noncollectable Accounts.

Explanation:

The bad debt recovery recording is a two step process.

Step 1 Reverse the entry of bad debt with the amount received

Dr Trade Receivable $40,000

Cr                   Bad debts    $40,000

Step 2 Now record the receipt of amount as a reduction in trade receivable and increase in cash asset.

Dr  Cash  $40,000

Cr Trade Receivables $40,000

The only account unconsidered here was Allowance for the noncollectable account.

4 0
3 years ago
Presented below is selected information for three regional divisions of Medina Company. Divisions North West South Contribution
lawyer [7]

Answer:

                                                     North     West           South

Contribution margin           $300,300 $499,000 $399,200

Controllable margin            $139,700 $360,600 $209,900

Average operating assets    $997,857 $1,567,826 $1,499,286

Minimum rate of return             13%            14%           9%

return on investment (ROI) = controllable margin / average operating assets

North's ROI = $139,700 / $997,857 = 14%

West's ROI = $360,600 / $1,567,826 = 23%

South's ROI = $209,900 / $1,499,286  = 14%

residual income = controllable margin - (average operating assets x minimum rate of return)

North's RI = $139,700 - ($997,857 x 13%) = $9,978.59

West's RI = $360,600 - ($1,567,826 x 14%) = $141,104.36

South's RI = $209,900 - ($1,499,286  x 9%) = $74,964.26

(1) If ROI is used to measure performance, which division or divisions will probably make the additional investment?

North and South divisions should probably make the additional investments since their current ROI is less than 16%

(2) If residual income is used to measure performance, which division or divisions will probably make the additional investment?

All the divisions since their minimum required rate of return is less than 16%.

6 0
3 years ago
Rextacular Manufacturing Company reported the following materials data for the month ending June 30, 2016:
dimulka [17.4K]

Answer:

Material used = $855,000

Explanation:

The computation of the cost of direct material used is shown below;

Material purchased = $828,000

Add:

Opening Inventory = $279,000

Less:

Closing Inventory = ($252,000)

Material used = $855,000

we simply applied the above formula so that the cost of direct material used could come

Hence, the cost of direct material used in production is $855,000

4 0
3 years ago
Which demographic category reported the least amount of stress during 1983, 2006, and 2009?
Allisa [31]
<span>Retired people reported the least amount of stress during 1983, 2006, and 2009. Retired people obviously do not have to deal with the stress of a career or job, they most likely do not have to raise children and they are free to engage in any pleasurable activity they please.</span>
3 0
3 years ago
Even before Michelle could explain why a prospect had not purchased her company's new line of ecofriendly outdoor furniture, her
postnew [5]

Answer:

Informal feedback

Explanation:

In simple words, informal feedback relates to the feedback under which the feedback is not planned by either of the parties involved and the conversation regarding the review just happens occasionally unplanned. I

 Generally, In such feedback there is no exchange of information but one party dictates their view to the other. Hence, from the above we can conclude that the given case is an instance of informal feedback.

8 0
3 years ago
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