Answer:
See the journal entry below
Explanation:
Retained earnings A/c Dr $500,000
Dividends payable A/c Cr $500,000
Here, cash dividend is being declared by the board on 100,000 shares hence the account of retained earnings is debited and account of dividends payable is credited.
NB.
Amount = Share × Price per share
Given that;
Share = 100,000
Price per share = $5
Amount
= 100,000 × $5
= $500,000
False, in developed nations labor costs are much much higher which is why labor is sent over to less developed countries
Answer:
See explaination and attachment
Explanation:
Stockholders' equity is the amount of assets remaining in a business after all liabilities have been settled. It is calculated as the capital given to a business by its shareholders, plus donated capital and earnings generated by the operation of the business, less any dividends issued.
Balance Sheet is a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.
See attachment for the step by step solution of the given problem.
Answer:
D) Both A. and B. are true.
- A) The schedule provides no information as to whether Jurisdiction M's tax is horizontally equitable.
- B) Jurisdiction M's tax is vertically equitable.
Explanation:
When we are talking about horizontal equity of a tax, we are talking about how the tax base is measured and the ability that taxpayers have to pay the tax. There is nothing here about tax base or taxpayers' ability to pay.
On the other hand, vertical equity deals with the tax rate structure. In this case, the tax rate is progressive, meaning that it increases as the taxpayers' income increases. Progressive taxes are vertically equitable.
