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3 years ago

2. What would you say to some who said that citizens had no right to know where their federal income tax money goes?

1 answer:

4 0

Federal tax dollars are collected from citizens to use for programs and infrastructure that is supposed to be used for public good, such as early childhood education, social security, roads, bridges, etc. Since the money is from citizens and for citizens, they should know how the money is spent so they can hold their elected representative accountable.

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Trusper Company was organized on January 1, Year 1 and has had 1,000 shares of $200 par value, 10% cumulative preferred stock ou

Masja [62]

Answer:

Trusper Company

The total amount of dividends that will be paid to common stockholders during Year 2 is:

$40,000.

Explanation:

a) Data and Calculations:

10% cumulative preferred stock = $200,000 ($200 * 1,000)

Common stock = $3,000 (3,000 * $1)

Dividends in Year 1 for cumulative preferred stockholders = $20,000 ($200,000 * 10%)

Dividends outstanding after Year 1 for cumulative preferred stockholders = $15,000 ($20,000 - $5,000)

Dividends for Year 2 for cumulative preferred stockholders = $35,000 ($20,000 + $15,000).

Total dividend paid to common stockholders during Year 2 = $40,000 ($75,000 - $35,000)

b) The unpaid cumulative preferred stock dividend of $15,000 for Year 1 will be added to the dividend of the Year 2. The common stockholders are not paid any dividends in Year 1. But in Year 2, they will get $40,000 after the cumulative preferred stock dividends are paid.

3 0

3 years ago

The following cost data pertain to the operations of Montgomery Department Stores, Inc., for the month of July. Corporate legal

deff fn [24]

Answer:

1.$134,000

2.$183,800

3.$124,050

Explanation:

1. Computation for the total amount of the costs that are direct costs of the Apparel Department

Apparel Department cost of sales - Evendale store $116,100

Apparel Department sales commission-Evendale store $7,950

Apparel Department manager's salary-Evendale store $9,950

Total direct costs for the Apparel Department

$134,000

2. Computation for the total amount of the costs that are direct costs of the Evendale Store

Apparel Department cost of sales - Evendale store $116,100

Store managers salary - Evendale store $18,300

Apparel Department sales commission-Evendale store $7,950

Store utilities - Evendale store $17,800

Janitorial costs - Evendale store $13,700

Apparel Department manager's salary-Evendale store $9,950

Total direct cost for the Evendale store $183,800

3. Computation for the total amount of the Apparel Department's direct costs that are variable costs with respect to total departmental sales

Apparel Department cost of sales - Evendale store $116,100

Apparel Department sales commission-Evendale store $7,950

Total variable cost-Apparel department $124,050

6 0

3 years ago

Malcolm (37) is a U.S citizen

Natali [406]

Answer: good for him

Explanation:

7 0

3 years ago

The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment on May 31.

julsineya [31]

Answer:

1. Insurance expires at the rate of $450 per month.

Dr Insurance expense 450

Cr Prepaid insurance 450

2. A count of supplies shows $1,140 of unused supplies on May 31.

Dr Supplies expense 1,460

Cr Supplies 1,460

3. (a) Annual depreciation is $2,880 on the building.

Dr Depreciation expense 240

Cr Accumulated depreciation, building 240

(b) Annual depreciation is $2,280 on equipment.

Dr Depreciation expense 240

Cr Accumulated depreciation, equipment 190

4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.)

Dr Interest expense 168

Cr Interest payable 168

5. Unearned rent of $2,510 has been earned.

Dr unearned revenue 2,510

Cr Rent revenue 2,510

6. Salaries of $880 are accrued and unpaid at May 31.

Dr Wages expense 880

Cr Wages payable 880

6 0

3 years ago

Sarjit and Rhonda have both recently completed graduate level training in liberal arts programs. Although they studied in differ

andre [41]

Economic classes refer to the position of people on the earning ladder. For Sarjit and Rhonda, the theory that classifies them into the same economic class is that of;

Karl Marx

According to Karl Marx, there are two economic classes, namely, the bourgeoisie and the proletariat. The bourgeoisie are the rich and working-class members of society while the proletariats are the workers.

Given this classification, Sarjit and Rhonda belong to the same economic class of workers.

Learn more here:

brainly.com/question/731472

3 0

3 years ago