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4 years ago

When previously declared cash dividends on common stock are paid which account would the corporation debit?

Business

1 answer:

garri49 [273]4 years ago

4 0

Answer:

Explanation:

Financial Statements depicts the financial position of a firm at a particular point of time or specified date. The users of financial statements use various types of analysis to understand or compare the current financial statements of the company to prior years or with those of the competitors.

The journal entry on declaration of dividend would lead to a debit to retained earnings and credit to dividends payable.

No journal entry is passed on the date of recording dividend.

Later, on the date of payment of dividend would lead to a debit to dividends payable and credit to cash account.

The journal entries have been shown below:

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Applying the concept of opportunity cost to the pollution of a lake, an economist probably would conclude that: a. no pollution

mrs_skeptik [129]

Answer:

d. pollution should be eliminated as long as the benefit from a cleanup exceeds the opportunity cost.

Explanation:

Opportunity cost is defined as the forgone cost of doing a particular activity. If you were not undertaking this activity what would you have gained by doing something else?

In this case as long as the benefit from cleaning up the pollution is greater than the opportunity cost (pollution) it should be undertaken.

5 0

3 years ago

The following credit sales are budgeted by Swifty Corporation:

Genrish500 [490]

Answer:

$458,000

Explanation:

April

$460,000 x .70 = $322,000

March

$520,000 x .2 = $104,000

February

$400,000 x .08 = $32,000

Addition of APRIL+MARCH+FEBRUARY

$322,000 + $104,000 + $32,000

= $458,000

Therefore the anticipated cash inflow for the month of April is $458,000

3 0

3 years ago

Alpha Corporation reported the following data for its most recent year: sales, $670,000; variable expenses, $420,000; and fixed

MariettaO [177]

Answer:

the degree of operating leverage is 5

Explanation:

The computation of the degree of operating leverage is given below:

= Contribution margin ÷ EBIT

= (Sales - Variable expense) ÷ (Sales - Variable expense - Fixed expense)

= ($670,000 - $420,000) ÷ ($670,000 - $420,000 - $200,000)

= $250,000 ÷ $50,000

= 5

Hence, the degree of operating leverage is 5

3 0

3 years ago

Sparks Fireworks manufactures and sells fireworks. Their raw materials used is $71,500. Their beginning raw materials inventory

algol13

Answer:

The correct answer would be, $70500

Explanation:

Raw Material Turnover means what amount of raw materials is used within a specific period of time. So the raw material turnover would be calculated by adding the beginning inventory with the amount of material used within the period, and then the remaining material will be deducted. So the whole calculations are shown as follows:

Beginning Raw Material Inventory: $5000

Raw Material Used: $71500

Ending Raw Material Inventory: $6000

Raw Material Inventory Turnover:

Beginning Inventory + Raw Material Used - Ending Raw Material

= 5000+71500-6000= $70500

7 0

4 years ago

Do you think individuals should be able to open companies anonymously? Why or why not?

adoni [48]

Well im stuck in the middle so ill give you to reasons

why i think they shouldnt be able to:
cuz they might wanna open it just as a scam and might try scamming and/or harming others

why i think they should be able to:
if they have a great idea and can prove its not a scam then im all for it ppl should be able to share and give their idea's to the world no matter howw far fetched they may seem

also ur question requiers an opinion so it should be what YOU think not just what others think :) in this type of question it would be best to go with ur own answer cuz there is no right or wrong anyways have a nice day :)

8 0

4 years ago