Answer:
$22,500
Explanation:
KL Corp
Cash ($15×$10,000 85%) $127,500
Compensation expenses ($15×$10,000×15%) $22,500
Common stock ($15×$10,000) $150,000
Therefore KL will record compensation expense associated with the May purchases of $22,500
What this agent has to do should be to advise the buyer that there may be special assessments levied against property.
<h3>Who is a house agent?</h3>
This is a person that acts as a third party to a person that wants to buy or rent a house and the person that is giving out the property.
The agent here has to tell the buyer that the reason for these taxes is the fact that there are other levies on the property.
Read more on house agents here:brainly.com/question/13957036
Answer:
The amount Pharoah should report as net cash provided (used) by financing activities in its 2020 statement of cash flows is $344,000.
Explanation:
Pharoah Corporation
Statement of cash flows (extract)
Proceeds from common stock $256,000
Proceed from bond payable $466,000
Dividend paid ($333,000)
Purchase of treasury stock ($45,000)
Net cash flows from financing activities $344,000
Note that the payment of accounts payable and collection of notes receivable only affect the operating activities section of the cash flows.
Explanation:
The journal entries are as follows
a. Retained earnings A/c Dr $300,000 (600,000 shares × $0.50)
To Dividend payable A/c $300,000
(Being the dividend is declared)
b. No journal entry is required
c. Dividend payable A/c $300,000
To Cash A/c $300,000
(Being the dividend is paid for cash is recorded)
