Answer:
Mapleleaf Industries
Journal Entry
Debit Cash Dividend $40,800
Credit Dividends Payable $40,800
To record the declaration of $0.85 per share cash dividend.
Explanation:
This journal entry shows the two accounts involved and how they are recorded when a cash dividend is declared (declaration date).
Calculation of cash dividends is based on 48,000 shares of common stock outstanding and not on the issued shares nor the authorized. Usually, dividends are only payable to shareholders of record, who appear on the register of the company as holders of the shares on the specified date (date of records).
So, the divided equals $40,800 (48,000 x $0.85).
The total cost of direct labor for the month will be $ 49350, if the company has budgeted production at 940 units for the month, each unit requires 3.5 hours of labor to produce and the average labor rate is $15 per hour.
Explanation:
The given is,
Total units produced in a month
= 940 unit per month
Time for each unit
= 3.5 unit per hour
Labor rate = $15 per hour
Step:1
Total Labor working hours for 940 units,
= Total units × Time for each unit
= 940 × 3.5
= 3290 hours
Step:2
Labor cost total working hours
= Total Labor working hours × Labor cost per hour
= 3290 × 15
= $ 49350
Result:
The total cost of direct labor for the month will be $ 49350, if the company has budgeted production at 940 units for the month, each unit requires 3.5 hours of labor to produce and the average labor rate is $15 per hour.
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Answer:
The correct option is (b) harvest or divest
Explanation:
In the case when the strength of the business is low and the attractiveness of the industry is weak so the suggestion is that harvest or digest
Here harvest refer to reducing the investment that made in the business or not to do the new investment in order to decreased the losses
While on the other hand, the divest refer the assets are sold and the same would become the part of an organization
Therefore as per the given scenario, The correct option is (b) harvest or divest
Answer:
The correct answer is option (a).
Explanation:
According to the scenario, the computation of the given data are as follows:
Amount = $10,000
Interest rate = 6%
So total interest amount = $10,000 × 6% = $600
So, the cash amount = $10,000 - $600 = $9,400
So, it shows increase in cash for $9,400.
The journal entry for the given data are as follows:
Cash A/c Dr $9,400
Interest A/c Dr $600
To Notes payable A/c $10,000
(Being the Notes payable is recorded))
