Answer:
B. $300,000
Explanation:
For computing the dividend, the computation is shown below:
= Current E&P + accumulated E&P at the beginning of the year
= $200,000 + $100,000
= $300,000
The dividend is $300,000 which is less than the distributed amount i.e $400,000 So, the distribution of dividend is only $300,000 ,not the $400,000 and the same is considered.
Answer:
THERE ARE SCARCITY EVEN IN AN AFFLUENT COUNTRY LIKE THE UNITED STATES BECAUSE WANTS ARE LIMITED BUT NEEDS ARE UNLIMITED. SOME PEOPLE ARE POOR WHILE OTHERS ARE WEALTHY
Answer:
<u>Cowboy Law Firm</u>
<u>Income statement for the year ended December.</u>
$
Service revenue 8,900
Less Expenses :
Salaries expense (2,000)
Utilities expense (1,100)
Net Income / (Loss) 5,800
Explanation:
Income statements shows Revenues earned and Expenses incurred at the end of the trading period.
Answer:
d) as a current liability
Explanation:
Current Liabilities are those liabilities which are payable within one years time e.g trade payable, tax payable etc.
The credit against the purchase of inventory is classified as the trade payable and it is paid in a short time, so it will be reported on the balance sheet in current liability section.
Answer:
B
Explanation:
He was fired for constantly missing rehearsals which is a duty of his role as an employee of U2
