Answer:
Preferred stock holders' dividend = $280000
Common stock holders' dividend = $8000
Explanation:
A cumulative preferred stock is one whose dividends are accumulated in arrears and are to paid in the following year(s), if the company fails to pay or partially pay the dividends in a certain year. The yearly dividend on preferred stock is,
Preferred stock dividend = 10000 * 200 * 0.07 = $140000
As the dividends on preferred stock are in arrears for one year, the company will pay a dividend this year on preferred stock of,
Preferred stock dividend to be paid = 140000 + 140000 = $280000
Thus, out of the announced dividend of $288000, $280000 will be paid to the preferred stock holders while the remaining $8000 will be paid to the common stock holders.
Answer:
Dec 31 Unearned rent revenue $ 3675 Dr
Rent Revenue $3675 Cr
Explanation:
The adjusting entries are made at the end of period and as the rent revenue is received in advance, it is treated as a liability until it is earned.On 31 December, 3 months rent revenue has been eanred and as this revenue belongs to this year, following the accrual principle, we will record this as revenue and decrease the liability.
The three months rent revenue = 1225 * 3 = 3675
Answer:
Amount of OASDI taxes to withhold = $35.34
Explanation:
Find:
Amount received in march = $320
Amount of salary = $250
Find:
Amount of OASDI taxes to withhold .
Computation:
OASDI tax rate = 6.2%
Total amount = Amount received in march + Amount of salary
Total amount = $320 + $250
Total amount = $570
Amount of OASDI taxes to withhold = Total amount × OASDI tax rate
Amount of OASDI taxes to withhold = $570 × 6.2%
Amount of OASDI taxes to withhold = $35.34
Answer:
Franchise.
Explanation:
A Franchise is a system in which semi-independent business owners (franchisees) pay fees and royalties to a parent company (franchiser) in return for the right to become identified with its trademark, to sell its products or services, and often to use its business format and system.
Is a network of interdependent business relationshipsthat allows a number of people to share:
1. A brand identification
2. A successful method of doing business
3. A proven marketing and distribution system