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vfiekz [6]
3 years ago
9

Review the steps in the accounting cycle and answer the following​ questions:

Business
1 answer:
GenaCL600 [577]3 years ago
4 0

Accounting cycle has various steps to discuss, which are listed below,

Explanation:

  • The first step in accounting cycle is to analyze and have a record of transactions.
  • Post closing trial balance is an optional step in the accounting cycle.
  • Journalizing and posting the closing entries are the steps required to complete throughout the accounting period.
  • Adjustments of accounts, preparing the financial statements and closing accounts are completed at the end of accounting cycle period.
  • The last step in the accounting cycle is to post closing trial balance.

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Retained earnings balance at the beginning of the year $ 135,000 Cash dividends declared for the year 55,000 Proceeds from the s
olganol [36]

Answer:

$51,200 was the cash dividends paid

Explanation:

Cash dividends paid=opening cash dividends payable +cash dividends declared-closing cash dividends payable

opening cash dividends payable is $27,000

cash dividends declared is $55,000

closing cash dividends payable is $30,800

cash dividends paid =$27,000+$55,000-$30,800=$51,200

The amount of cash transfers made in respect of shareholders dividends in the year is $51,200.

The logic is that the whatever is left unpaid at year end should be deducted from the balance owed year plus the new dividends declared this year

5 0
3 years ago
Craydye Corporation manufactures a part for its production cycle. The costs per unit for 8,000 units of this part are as follows
irakobra [83]

Answer:

Make; $72,000

Working:

Make ($106*8000)                         848,000

Buy [($120*8000 - 40,000)]           920,000

Make increases profits by              72,000

7 0
3 years ago
Read 2 more answers
When firms expand into global markets, they are faced with the choice of reducing costs and/or adapting to the local market. Whe
Airida [17]

Answer:

Global strategy; Transnational strategy

Explanations:

Companies should choose a global strategy or transnational strategy

A global strategy is a technique used by a firm to expand and compete in the global market. It is the plans made by a firm to grow beyond it's border.

Global strategy covers three other strategies

1. International strategy

2. Multinational strategy

3. Global strategy

A firm adopt global strategy in order to increase its sales of products and Profit.

Transnational strategy is a technique which allows firms to expand sales of goods and services while taking into consideration the difference in culture of people.

Transnational occurs when a company in China wants to expand to other countries like Nigeria. For China to have a smooth operation, it must first take into cognizance our culture and believe.

6 0
3 years ago
Companies that have preferred stock outstanding promise to pay a stated dividend for an infinite period. Preferred stock is trea
mel-nik [20]

Answer:

$74.63 per share

Explanation:

The computation of the value of preferred stock is shown below:

As we know that  

Value of the preferred stock = Annual dividend rate ÷ Returns on the stock

where,

Dividend on the preferred stock = Dividend rate × Par value

= 11% × $100

= $11

And, the return is 14.74%

So, the value of the preferred stock is  

= $11 ÷ 14.74%

= $74.63 per share

6 0
3 years ago
Which form of business organization is established as a separate legal entity from its owners?
Vsevolod [243]
<span>Corporation this is the answer
</span><span>
</span>
7 0
3 years ago
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