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grigory [225]
3 years ago
12

The baldwin company has just issued $7,235,640 in dividends last year. the effect of this payment on the balance sheet is

Business
1 answer:
nirvana33 [79]3 years ago
8 0
<span>The effect is a decrease of $7235,640 in the company's retained earnings and cash balance, resulting in a decrease in assets and equity. Before the dividend is actually paid out, the balance sheet will show a debit to its retained earning account of $7,235,640 and a credit to the dividends payable account of $7235,640. After the dividends are paid, the dividend payable account is credited and the dividends payable account is debited in the same amount, and these accounts are no longer shown on the balance sheet.</span>
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andrezito [222]

Answer:

Grace is incorrect because of the veil and alter ego theory

Explanation:

In this scenario Grace formed a corporation along with her three friends. As a result of catering services offered guest became ill and sued Grace and the other owners for damages.

According to the alter egos theory personal liability can be invoked on the owners of a corporation or its limited liability members.

Alter ego theory is used to penetrate the corporate veil that protects shareholders. Personal liability can be assigned on the business owner as it is in this case against Grace and the other owners.

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When assessing whether product release deadlines were met during the first three months of the year, the quality assurance (QA)
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sladkih [1.3K]

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Explanation:

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3 years ago
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vampirchik [111]

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$10,786.88

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3 years ago
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