Answer: $22000
Explanation:
The amount of Superior's dividend declarations during its recent year of operation will be calculated thus:
Ending retained earnings ($91000) = Beginning retained earnings ($75000) + Net income ($38000) - Dividend declared
$91000 = $113000 - Dividend declared
Dividend declared = $113000 - $91000
Dividend declared = $22000
Therefore, Superior's dividend declarations during its recent year of operation is $22000
Answer:
c. Neither Gabriella nor Juanita will recognize gain on the transfer.
Explanation:
This is because gabriella transfers cash of 50,000 and does not earn any gain on it, so no gain is recognized.
Answer:
Store of value.
Explanation:
In economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.
Simply stated, money refers to any asset which can be used to purchase goods and services by customers.
This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.
The three (3) main functions of money all over the world are;
I. Medium of exchange.
II. Unit of account.
III. Store of value.
In this scenario, Jeffrey went to a financial manager to begin planning for his son's future by opening a college savings account. Thus, this is is an example of a store of value because the purchasing power was transferred from the present to the future.
In conclusion, money being a store of value makes it possible to transfer purchasing power between traders and buyers from the present to the future.
Answer:
Detaled solution can be seen in the attached diagrams:
Answer: See explanation
Explanation:
Economics is referred to as a social science that is concerned with how goods are produced, how they're distributed and how they're consumed. Economics is the social science that studies why human beings behave the way that they do.
It is difficult to consider Economics as a science because it lacks a hypotheses that's testable. Also, there is lack of consensus and the scientific method is not followed in Economics.
