Answer:
It is easy to post transactions to the ledger accounts after recording them in the prime entry books.
Reduce the number of entries posted in the ledger because the totals of prime entry books are posted to the ledger.
Minimize accounting errors and it is easy to find out such errors.
Explanation:
Answer:
$195,200 increase
Explanation:
The computation of the amount of the contributed capital increase or decrease is shown below:
Given that
Stock Dividend = Outstanding shares × 20%
= 61,000 Shares × 20%
= 12,200 shares
Now the Value of Stock Dividend is
= Number of Shares × Market Value per share
= 12,200 Shares × $16
= $195,200
There is an increase in the contributed capital
Answer:
The correct answer is B
Explanation:
A corporation is the kind of entity, in which the operations of the business will be treated as a separate entity, legal entity which is guided by the group of officers as BOD (Board of Directors). And the partners of this type of entity, bears no personal liability.
So, Cathy and Todd, who established or created a business and that is a separate legal entity and share the ownership of 50-50. It will be a Corporation.
Ashton’s marketing consultant advises against this idea because of the downtown area’s level of competition.
<h3>What set the level of competition?</h3>
The conditions that is known to determine the level of competition in a given market at a particular area is said to be the number and the size of buyers and sellers.
There are different types of competition in a free market system. They are:
- Perfect competition
- Monopolistic competition
- Oligopoly
- Monopoly.
Learn more about level of competition from
brainly.com/question/1263388
Answer: $2150
Explanation:
From the question, Keith has a tax liability of $2,250 and paid $2,600 in qualifying expenses.
The amount of his American Opportunity tax credit allowed will be charged at 100% for the first $2000 and 25% for the next $2000. Since he paid $2600 in qualifying expenses, this will be:
= (100% × $2000) + (25% × [$2600 - $2000]
= $2000 + (0.25 × $600)
= $2000 + $150
= $2150
The amount of his American Opportunity tax credit will be $2150
