Answer:
False
Explanation:
Green's distribution of $50,000 in to its sole shareholder at the end of the year should be treated as a dividend because Green's total earnings and profits for the year were $100,000.
A distribution from a corporation to a shareholder can only be treated as a dividend when the corporation made a profit during the current year, or has positive accumulated earnings and profits.
To calculate cost of direct materials used, you take Purchases of raw materials and subtract the change in raw materials. The idea is that the cost of raw materials used will be however much raw materials decreased during the period plus the purchase of raw materials. Beginning raw materials is 4000, and ending raw materials is 3000, a change of -1000. Purchases of raw materials were 99,000. The Cost of Direct Materials is 99,000 - (-1000) = 100,000.
Answer:
b. $31,000
Explanation:
The computation of the depreciation expense using the straight-line method for the second year is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($127,000- $3,000) ÷ (4 years)
= ($124,000) ÷ (4 years)
= $31,000
Hence, the correct option is b. $31,000
The units are to be ignored as the method i.e used is straight line so the same is to be considered
New media are forms of media from computers or that rely on computer/digital technology (old media are phones,radios, etc)
Examples of new media: computers, online databases, you tube, social media networks, online news articles, etc.
