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Anna35 [415]
3 years ago
13

On November 1, 2018, Uno, Inc. declared a dividend of $4.50 per share. Uno, Inc. has 23,000 shares of common stock outstanding a

nd no preferred stock. Which of the following is the journal entry needed to record the declaration of the dividend?
A. Debit Cash Dividends $103,500, and credit Cash $103,500
B. Debit Cash Dividends $103,500, and credit Dividends Payable-Common $103,500.
C. Debit Dividends Payable-Common $103,500, and credit Retained Earnings $103,500.
D. Debit Cash $103,500, and credit Dividends PayableCommon $103,500
Business
1 answer:
wariber [46]3 years ago
5 0

Answer:

Option - B  is correct one.

Debit Cash Dividends $103,500, and credit Dividends Payable-Common $103,500.

Explanation:

Cash - Dividend ( expenses account) is debited and corresponding credit is given to dividends payable account. Since dividend is declared but not paid. Later Cash dividend (expenses account ) shall be closed by transfer to retained earnings account.

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According to the Mundell–Fleming model, in an economy with flexible exchange rates, expansionary fiscal policy causes net export
maxonik [38]

Answer: Decrease and Increase

Explanation:

According to the Mundell–Fleming model, in an economy with flexible exchange rates, expansionary fiscal policy will cause the net exports to decrease. Expansionary fiscal policy shifts the IS curve rightwards, as a result BOP surplus created in the economy. So, exchange rate decreases to shift the BOP back to its initial position. As a result of lower exchange rate, exports falls. Hence, net exports decreases.

Expansionary Monetary policy will cause the net exports to increases. Expansionary Monetary policy shifts the LM curve rightwards, as a result BOP deficit created in the economy. So, exchange rate increases to shift the BOP back to its initial position. As a result of higher exchange rate, exports increases. Hence, net exports increases.

5 0
3 years ago
AC Corporation has beginning inventory of $9,049, accounts payable of $7,212, and accounts receivable of $6,333. The end of year
labwork [276]

Answer:

The AC Corporation takes 46 Days average to pay back its accounts payable.

Explanation:

Average Accounts Payable = $7863.5

Cost of Goods Sold = $63,008

Number of Days in Accounting Period = 365

Days Payable Outstanding = (Average Accounts Payable / Cost of Goods Sold) x Number of Days in Accounting Period

Days Payable Outstanding = ($7,863.5 / $63,008) x 365

Days Payable Outstanding = 45.55

Therefor, the company takes an average of 46 days to pay back its accounts payable.

3 0
3 years ago
Beckenworth had cost of goods sold of $11,221 million, ending inventory of $3,889 million, and average inventory of $2,145 milli
inysia [295]

Answer:

69.77 days

Explanation:

days' sales in inventory = number of days in a period/ inventory turnover

inventory turnover = Cost of goods sold / average inventory

Inventory turnover = $11,221 / $2,145 = 5.231235

days' sales in inventory = = 365 / 5.231235 million = 69.77 days

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Explanation:

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The definition of a manager is someone who is responsible for overseeing and motivating employees and directing the progress of an organization. Examples of managers include those responsible for customer service, handling customer disputes, and supervising and monitoring customer service representatives.

A good manager can lead a team and help it grow while maintaining complete control over the business and its performance. These people are the ones who can always adapt to new situations, encourage others to reach their full potential, and achieve their highest goals. A manager is an organizational representative who is responsible for managing the work of a group of employees and taking necessary actions when necessary.

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