Answer:
$5,000
Explanation:
Based on the information given we were told that had a total basis in her 500 shares of stock of the amount of $5,000 which means that The total basis of Melissa's 1,000 shares of stock after the dividend is $5,000 which is her total basis in her 500 shares of stock.
Renaldo would earn <span>2817.63. You take the $ of sales and multiply it by the commissions percentage, then add the number you get with the flat salary to get his total $ earned that month.</span>
Answer:
Balance sheet.
Explanation:
Options B, C, D are wrong because income statement, retained earnings statement, and statement of cash flows is prepared for a specific period. For example, an accounting year or a fiscal year. As a company is operating throughout the year, it can generate income, expenses, and dividends.
On the other hand, assets and liabilities are valued on a specific date. Therefore, option A (balance sheet) is correct.
Answer:
Please see journal entries below
Explanation:
The entries below are made in the books of Farmland Corporation, the issuer of the bond.
Upon redemption, journal entries would be as follows.
Debit: Bond Account $396,000 (cash paid to bond investors)
Credit: Cash/Bank Account $396,000 (cash paid to bond investors)
Debit: Profit/Loss Account $8,000 (premium paid over carrying value of bond, calculated below: )
Credit: Bond Account $8,000 (premium paid over carrying value)
Premium over carrying value is calculated as follows:
Redemption value - carrying value
= 
=
= $396,000 - $388,000
= $8,000