The members of an audience of a play or film will not all react to a production the exact same way. True False

xyz's corporation has an investment in 20,000 shares of wallace company common stock with a cost of $872,000. these shares are u

Flura [38]

Answer:

XYZ's Corporation

The net effect of this property dividend on retained earnings is a reduction of:

= $388,000.

Explanation:

a) Data and Calculations:

Cost of investment in Wallace Company = $872,000

Property dividend declaration date = May 25

Property dividend distribution date = July 31

Property dividend date of record = June 15

Fair value per share of Wallace shares:

May 25 = $63

June 15 = $66

July 31 = $68

Amount of property dividend declared = $1,260,000 ($63 * 20,000)

Analysis of entries:

May 25:

Property dividend $872,000 Loss on Distribution $388,000 Property Dividend Payable $1,260,000

July 31:

Property Dividend Payable $1,260,000 Cash $1,260,000

5 0

3 years ago

Entry for Jobs Completed; Cost of Unfinished Jobs

frosja888 [35]

Answer:

a. Journal Entry to record the jobs completed:

Debit Finished Goods Inventory $178,710

Credit Work in Process $178,710

To record the jobs completed.

b. The cost of the unfinished jobs at August 31 is:

= $23,080

Explanation:

a) Data and Analysis:

Work in Process

Account Titles Debit Credit

Balance, August 1 $8,920

Direct materials 72,520

Direct labor 78,230

Factory overhead 41,120

Finished goods inventory $178,710

Balance (unfinished jobs) 23,080

Total $201,790 $201,790

Jobs finished during August are summarized as follows:

Job 210 $36,140

Job 216 22,090

Job 224 42,170

Job 230 78,310

Total $178,710

a. Journal Entry Analysis to record the jobs completed:

Finished Goods Inventory $178,710 Work in Process $178,710

b. The cost of the unfinished jobs at August 31 is:

= Total of work in process Minus Finished Goods

= $201,790 - $178,710

= $23,080

5 0

3 years ago

Machine Malfunction. Bruno, the president of a corporation operating work out facilities, convinced the board of directors to ap

andrew-mc [135]

Answer:

The correct answer is letter "C": The Business Judgment Rule.

Explanation:

The Business Judgment Rule is a law that protects a company's Board of Directors (BoD) from inconsistent allegations from shareholders stating that the BoD is acting against the stakeholders' interest. The law presumes that members of the BoD act in "good faith" and that they do not always make the best decisions.

The Business Judgment Rule helps managers, in such a way, to avoid laws where there is no substantial proof that they had intentions to go against the investors' will.

8 0

4 years ago

Suppose that Portugal and Austria both produce fish and shoes. Portugal's opportunity cost of producing a pair of shoes is 4 pou

sineoko [7]

Answer:

Portugal has a comparative advantage in the production of shoes

Austria has a comparative advantage in the production of fishes

Explanation:

A country has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries.

Portugal has a lower opportunity cost in the production of shoes when compared with Asutria. Portugal has a comparative advantage in production of shoes.

It means thay Asutria is better at producing fish and would therefore have a comparative advantage in the production of fish.

I hope my answer helps you

6 0

3 years ago

Using the following data, prepare a statement of revenues, expenditures, and changes in fund balance for the General Fund of Jas

SpyIntel [72]

Answer:

Fund balance at ending of year is $3,230,000.

Explanation:

This can be prepared as follows:

Jasmin City

General Fund

Statement of Revenues, Expenditures, And Changes in Fund Balance

For the Year Ended December 31, 2019

Details $ $

Revenues:

Miscellaneous revenues 180,000

Licenses and permits revenues 1,000,000

Property tax revenues 7,000,000

State and federal grants 2,000,000

Total revenues 10,180,00

Expenditures:

Education program expenditures (2,000,000)

Public safety expenditures (4,000,000)

Parks program expenditures (750,000)

Highways program expenditures (900,000)

Total expenditures  (7,650,000) 

Excess of revenues over exp. 2,530,000

Other Financing Sources (Uses):

Transfers to other funds (1,500,000)

Transfers from other funds 700,000

Total other financing sources (uses) 800,000

Net change in fund balance 1,730,000

Fund balance at beginning of year 1,500,000

Fund balance at ending of year  3,230,000 

3 0

3 years ago