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givi [52]
3 years ago
7

On December 31, 20X2 and 20X3, Apex Co. had 3,000 shares of $100 par, 5% cumulative preferred stock outstanding. No dividends we

re in arrears as of December 31, 20X1. Apex did not declare a dividend during 20X2. During 20X3, Apex paid a cash dividend of $10,000 on its preferred stock. Apex should report dividends in arrears in its 20X3 financial statements as a (an) __________ .
Business
1 answer:
Anarel [89]3 years ago
7 0

Answer: the correct answer is a disclosure of $20,000

Explanation:

The annual preferred stock dividend is $15,000 = 3,000 x $100 x 5%. Total dividends in arrears at the end of 20X3 are therefore $20,000 = 2 years x $15,000 - $10,000 paid.

Dividends in arrears are footnoted only. They are not recognized as a liability until they are declared.

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A company introduced a new low calorie version of one of its popular cold drinks. as a result, the sales of the original cold dr
sashaice [31]
This situation is known as cannibalization. Cannibalization is a marketing strategy that refers to the reduction company's see in there sales volume, revenue or market share of a current product when they release a new product. When a company releases a new product, those who are fans of their other products will likely try the new product instead of the hold which initially brings down the volume they sell and make from the initial product. 
4 0
3 years ago
Recent U.S. Supreme Court decisions solidified the idea that the ADEA is designed specifically to protect older workers from dis
Lyrx [107]

Answer:

True

Explanation:

There are several Supreme Court Rulings regarding the ADEA during the past two decades, most of them concerning technical issues, but  the most straightforward ruling regarding the question is:

General Dynamics Land Systems, Inc. v. Cline, 540 U.S. 581 (2004)

The Supreme Court ruled that the purpose of the ADEA is to prevent discrimination against older workers in benefit of younger workers, but it does not prevent discrimination against younger workers in benefit of older workers.

7 0
3 years ago
Aquatic Equipment Corporation decided to switch from the LIFO method of costing inventories to the FIFO method at the beginning
otez555 [7]

Answer:

Explanation:

1. The computation of the balance in retained earnings is shown below:

= Beginning retained earning balance + adjusted net income

where,

Beginning retained earning balance is $780,000

And, the adjusted net income is = Inventory × ( 1 - tax rate)

= $60,000 × (1 - 40%)

= $36,000

Now put these values to the above formula  

So, the value would equal to

= $780,000 + $36,000

= $816,000

2. The journal entry is shown below:

Inventory A/c Dr $60,000

   To Retained earning A/c $36,000

   To Tax payable A/c          $24,000

(Being inventory is adjusted and the remaining balance is credited to tax payable account)

4 0
3 years ago
Sheffield Corporation incurred the following costs in 2020. Cost of laboratory research aimed at discovery of new knowledge $145
Stells [14]

Answer: Debit Research and Development expense $477,000

Credit Cash $477,000

Explanation:

The journal entry simply refers to the recording of transactions that a company makes and it should be noted that the total amount that's gotten in the debit column must be equal to the total amount that us gotten in the credit column.

Based on the information given in the question, the journal entry for Sheffield Corporation will be:

Debit Research and Development expense $477,000

Credit Cash $477,000

8 0
2 years ago
Brettson Inc. is a major player in the U.S. consumer electronics markets. It sells radios, televisions, DVD players, and a numbe
jasenka [17]

Answer: Differences in product and technical standards

Explanation:

International market has some variety of item when it comes to when the product compete with the locally sold item. When a product which is not being made in a particular country is entering that same country it has some competition to deal with and would have to go through some required standard already in place set by the the country which it's going into. Each country will have their different technical standard and this would determine some decisions on how the international product will sell in this market.

8 0
3 years ago
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