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Thepotemich [5.8K]
3 years ago
12

Henry is the manager at a store that sells clothes for all seasons. The latest trend, he found, was in summer beachwear. So, he

decided to create such an atmosphere within his store. What would Henry have most likely used to create a beach atmosphere in his store?
Business
2 answers:
storchak [24]3 years ago
6 0

Inventory and props are going to be the two correct answers.

DaniilM [7]3 years ago
3 0
I don't know. There are no answer options. Maybe palm trees etc.?
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Which of the following best describes deflation?
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Fitzgerald Tech owns 20,000 shares of Buchanan Industries, which it purchased for $450,000 in 2016. On March 6, 2020, Fitzgerald
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Answer:

The debit to the retained earning should be $750,000 for this transaction because that is the market value of the asset to be distributed as dividend.

Explanation:

Property dividend is a form of dividend payout that involves distribution of company`s assets to equity holders as a form of return. These assets can be inventory, marketable securities or investment in a subsidiary.

For this distribution to be formal, it must be approved by the board of directors of the company. After approved and declared, the accounting entries can now be passed.

The accounting entries needed are:

Debit: Retained Earnings with the amount of the asset distributed.

Credit: Dividend Payable with the amount of the asset distributed.

It is important to note that  the market value of asset to be distributed should be considered i.e the market value of the asset must be recognized in the book. The difference in book value and market value of the investment will be recognized in respective asset ledger account prior transfer to retained earnings.So that the market value of the investment is recognized on the debit side of retained earnings

In the case of Fitzgerald, $750,000 will be debited to retained earnings since it is the market value of the asset to be distributed.

8 0
3 years ago
Pharoah Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. Duri
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Answer and Explanation:

The Journal entry is shown below:-

On  November 2022

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(Being the receipt of the subscriptions is recorded)

Therefore to record the receipt of the subscriptions we simply debited the cash as it increased the assets and we credited the unearned subscription revenues as increased the liability so that the correct posting could be done

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3 years ago
Shawna had a beginning balance in her checking account of $123.32. she wrote check #2341 for $23.77. she deposited two checks to
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Answer: $449.53

When Shawna wrote a check for $23.77, the same amount was deducted from her bank account, decreasing her balance to $99.55.  When she deposited two checks totaling $349.98, the amount was added, making her new balance increased to $449.53.


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