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finlep [7]
3 years ago
14

A company declared a cash dividend of $8,560 on december 5, 2015. the company made a cash dividend payment on january 8, 2016. w

hat is the cumulative effect of the declaration and payment of the cash dividend on the company's financial statements?​
Business
1 answer:
vodka [1.7K]3 years ago
3 0
Provided that the company is using a calendar year in preparing their financial statements, the financial statements would be prepared at year end. Upon the declaration of the cash dividend, the company would be recognizing a liability. This would be considered as a non-adjusting event since it can be clearly concluded that the payment happened after the reporting period<span>. This would not affect the financial statements of the year 2015.</span>
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Imagine that you are a pecan farmer in Georgia. If the same trends hold true for nut production as maple syrup production, where
Dimas [21]

Answer:

You be looking to relocate your business to Delaware

Explanation:

Delaware is one of the 50 states of the United States, in the Mid Atlantic region. The weather condition in Delaware is very conducive in growing a maple tree.

8 0
3 years ago
In a perfectly competitive market
lawyer [7]

Answer:

D. No seller can influence the price of the product

Explanation:

A perfect market for competition is a market which has a high level of competition.  

It has the following features-

1. With regard to the market, knowledge is perfect in this rivalry between producer and consumer.  

2. Free entry, and exit

3. Deals with same or homogeneous products

4. The buyers and sellers are more in this market

5. There is no transport cost

Moreover, the average revenue and the marginal revenue are equal.

So, the correct option is D.

6 0
3 years ago
When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by the consumer, this is an
PSYCHO15rus [73]

Answer:

Segmentation.

Explanation:

When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by the consumer, this is an example of market segmentation.

Market segmentation can be defined as the process of aggregating potential consumers (buyers) into a collective groups having common or related needs and are most likely to respond similarly to marketing techniques. These consumers share some traits or characteristics together and these include locations, needs, interests,

A good market segmentation base are divided into four (4) and these are; the behavioral, demographic, psychographic and geographical. Also, these variables are used to determine its strategy or techniques for a market segmentation.

Additionally, tailoring goods or services to the tastes of individual customers on a high-volume scale is a segmentation strategy known as segments of one.

7 0
3 years ago
National Orthopedics Co. issued 9% bonds, dated January 1, with a face amount of $500,000 on January 1, 2021. The bonds mature o
Jobisdone [24]

Answer:

The price of the bonds $483,841.97    

Journal entry:

Dr cash $483,841.97    

Dr discount on bonds payable $16,158.03    

Cr bonds payable $500,000.00

Explanation:

Using a financial calculator, we determine the bond price by using the following inputs:

N=8(number of semiannual coupons in 4 years=4*2=8)

PMT=22500 (semiannual coupon=face value*coupon rate*6/12= $500,000*9%*6/12=$22,500)

I/Y=5(semiannual yield=10%%*6/12=5%)

FV=500000( the face value is $600,000)

CPT PV=$483,841.97    

Bond discount=face value-bond price

Bond discount=$500,000-$483,841.97    

Bond discount=$16,158.03    

The double entries are to debit cash and discount on bonds payable with $483,841.97 and $16,158.03  respectively while bonds payable is credited with the face value of $500,000

8 0
3 years ago
On January 1, 2013, the balance in Tabor Co.'s Allowance for Bad Debts account was $13,501. During the first 11 months of the ye
elixir [45]

Answer:Total of accounts written off=$25, 018, part b is in the explanation column

Explanation:

Total of accounts (Bad debt) written off=Opening Balance in bad debt allowance account+

bad debt expense recognized during the period −

Closing balance in bad debt allowance account

=$13,501+$21,413−$9,896

=$25, 018

T---account

                                  Allowance for bad debts

                                                       $13,501   Balance from Jan 1st

                                                       $21,413    Bad debts expense

Bad debts written off $25, 018

                                                       $9,896 Balance on November 30

b)Adjusted journal entry for change in amount of allowance for bad debt account

December 31st 2013     Account        Debit         Credit

          Allowance for bad debts          $620  

         Bad debts expense                                        $620

calculation

The balance in allowance for bad debt account as on November 30 is $9 896 , when it was supposed to be $9,276. Therefore the bad debt expense is overstated by  

$9,896- $9, 276 = $620

                                                       

​

5 0
3 years ago
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