Answer:
Debit Retained Earnings $5,880; credit Common Dividends Payable $5,880.
Explanation:
Based on the information given the appropriate
Journal entry for the dividend declaration will be:
Debit Retained Earnings $5,880
Credit Common Dividends Payable $5,880.
(To record dividend declaration)
$0.70 * (14,000 shares - 5600 shares)
= $0.70*8,400
=$5,880
Answer:It is contraction
Explanation:It is at the smallest point
Answer:
Secondary mortgage market
Explanation:
The secondary mortgage market is a market in which the loan related to the home and the services rights are purchased and sold between the lenders and the investors
here the transfer is to be done with respect to the mortgages that are previously existed between the investors
Therefore in the given case, it is the situation of the secondary mortgage market and hence, the same is to be considered
The cost to produce today = 74000
At a discount of 12%, the future value of costs in 5 years = PV*(1+r)^n where PV = 74000, r= 12% = 0.12 and n = 5 years = 5
The value of costs in 5 years = 74000*(1+0.12)^5
The value of costs in 5 years = 74000*1.12^5
The value of costs in 5 years 130,413.28
Price in 5 years = 138,000
Profit = 138,000-130,413.28 = 7,586.72
The profit the firm will make on this asset (considering time value of money) = $7,586.72
Answer and Explanation:
Debit bad debt expense for $40,000 and credit allowance for uncollectible accounts for $40,000
