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4 years ago

Record the entry for cash dividend received of $200,000 from the Ferry Intercommunications common shares.

Business

1 answer:

Marizza181 [45]4 years ago

5 0

Answer:

Dr Cash Account and Cr Income statement (i.e investment income)

Explanation:

This represents returns received on shareholding with Ferry Intercommunications.

This will credited as other income in the income statement and it will also increase the company's cash balance since it is a cash inflow.

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Thorkfeld Company incurred depreciation expenses of $28,900 last year. The sales were $755,000 and the addition to retained earn

blondinia [14]

Answer:

Cost of Goods Sold is = $697213.44

Explanation:

given data

depreciation expenses = $28,900

sales = $755,000

retained earnings = $10,200

paid interest = $6,200

dividends = $5,000

tax rate = 33 percent

solution

first we get here EBIT that is express as here

EBIT = Earnings for equity holders + Tax + Interest ...............1

Earnings for equity holders = Dividend Paid + retained earnings

Earnings for equity holders = $5,000 + $10,200 = $15200

here Tax is = $\frac{15200}{67}$ × 33 = 7486.56

so here EBIT = $15200 + $7486.56 + $6,200

EBIT = $28886.56

so Cost of Goods Sold is = sales - depreciation - EBIT ..................2

Cost of Goods Sold is = $755,000 - $28,900 - $28886.56

Cost of Goods Sold is = $697213.44

3 0

3 years ago

Which is NOT true regarding differences between goods and services? A. Services tend to have higher customer interaction than g

Blababa [14]

Answer:

E. None, i.e., all of the above are true.

Explanation:

A. Services tend to have higher customer interaction than goods.

B. Most goods are common to many customers; services are often unique to the final customer. C. Services tend to have a more inconsistent product definition than goods.

D. Tangible goods are generally produced and consumed simultaneously; services are not.

E. None, i.e., all of the above are true.

All of the above are true

7 0

3 years ago

A bank has $650,000 in assets to allocate among investments in bonds, home mortgages, car loans, and personal loans. Bonds are e

frosja888 [35]

Answer:

using solver, the optimal solution is:

$325,000 invested in bonds

$162,500.01 invested in mortgages

$162,499.99 invested in personal loans

maximum profit = $66,625

Explanation:

profit maximization equation:

0.1b + 0.085m + 0.095c + 0.125p

where:

b = money invested in bonds

m = money invested in mortgage loans

c = money invested in car loans

p = money invested in personal loans

constraints:

b + m + c + p ≤ 650,000

p ≤ 0.25 x 650,000 ⇒ p ≤ 162,500

m ˃ p

b ˃ p

using solver, the optimal solution is:

$325,000 invested in bonds

$162,500.01 invested in mortgages

$162,499.99 invested in personal loans

maximum profit = $66,625

actually solver gave me the following solution:

$325,000 invested in bonds

$162,500 invested in mortgages

$162,500 invested in personal loans

maximum profit = $66,625

since mortgage loans must be larger than personal loans, I added 1¢ to mortgage loans and subtracted 1¢ from personal loans

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3 years ago

Under what circumstance might you receive a tax refund from the IRS?

Otrada [13]

You receive a tax refund from the IRS if your tax liability is less than the tax you paid for a fiscal year. This means that the tax you owe is less than what you paid for your taxes. Another circumstance is when you are entitled to tax credits

4 0

4 years ago

Read 2 more answers

In recent decades, many successful presidential candidates were former governors.

valina [46]

A True Ted Cruz said so.

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4 years ago