Answer:
The net journal entry impact on company's retained earnings is $1400,000 credit.
Explanation:
When the dividends were declared on December 15,the following entries apply:
Dr Dividends $1600000
Cr Dividends payable $1600000
However,upon closing the dividends to retained earnings the below journal entries apply:
Dr Retained earnings $1600000
Cr Dividends $1600000
It is noteworthy that the stock-split does not impact the dividends or retained earnings of $3m in anyway.
Since,journal entries for temporary accounts are closed to retained earnings,invariably the net income of $3m in year 2 must also be shown in retained earnings using journal.
Dr Income statement $3000000
Cr Retained earnings $3000000
From the above,a debit of $1600000 and credit entry of $3000000 in retained earnings gives a credit balance of $1400000
Its probbably d or c but please let me know if im wrong
When politicians commit to making a large future expenditure without simultaneously committing to collect enough taxes to pay for it, this is an example of an <u>"unfunded liability".</u>
A liability is a future obligation or execution commitment that one gathering owes to another at some future date in time. It is regularly settled through an installment or execution of an administration.
An Unfunded Liability is utilized to portray any risk that does not have funds put aside for it. It tends to be computed by deciding the distinction, anytime, by which future installment commitments surpass the normal future stream of financing.
Answer: $74,000
Explanation:
The Average Investment refers to the average cash invested into a particular project and is useful in calculating the rate of return. The simple formula is to add the beginning value of the asset to its ending value and divide this by 2.
The ending value in this case would be the salvage value;
Average Investment = 
= 
= $74,000
Answer:
Explanation:
The journal entry to record the bad debt expense is shown below:
Bad debt expense A/c Dr $11,181
To Allowance for doubtful debts $11,181
(Being bad debt expense is recorded)
The computation of the bad debt expense is shown below:
= (Accounts receivable × estimated percentage given
) - (credit balance of Allowance for Doubtful Accounts)
= ($206,300 × 7%) - ($3,260)
= $14,441 - $3,260
= $11,181
