Answer: a. Continuing operations.
Explanation:
When a company prepares its financial statements, it does this assuming the principle of going concern which is that operations will continue in the near future. The information that is therefore shown, unless specified otherwise, is from continuing operations.
Users of financial statements rely on this information from continuing operations to analyze what the company is likely to do in future or how it is likely to perform. It is therefore a very important section as it shows whether stakeholders should remain invested in the company.
Answer:
The $302,500 is the amount of tuition revenue should the college recognize on February 28
Explanation:
The calculation of amount of tuition revenue should the college recognize on February 28 is computed below:
= Total Amount Received ÷ Number of months
= $1,210,000 ÷ 4
= $302,500
Since the amount of tuition revenue is given for four months and we have to calculate for 1 month. That's why we take four months while calculating.
Thus, $302,500 is the amount of tuition revenue should the college recognize on February 28
Answer:
b. 16 utils.
Explanation:
price of one apple = $0.75
marginal utility from consuming one apple = 24
utils per dollar (from apples) = 24 / $0.75 = 32 utils per dollar
since each banana costs $0.50, Hugh must be obtaining a marginal utility = 32/$ x $0.50 = 16 utils from one banana
when you maximize your marginal utility, the utils per dollar must be equal for both products
Answer: a. Debit Retained Earnings $6.600: credit Common Dividends Payable $6.600
Explanation:
The Dividends to be paid are;
= dividend * common stock outstanding
= 0.5 * 13,200
= $6,600
When dividends are simply declared, the Retained earnings will be debited by the dividend amount because dividends come from Retained earnings.
The dividends will be credited to a liability account to show that the company owes its shareholders some dividends. The liability account is called the Common Dividends Payable account.
Answer:
$258,790
Explanation:
Bramble report as its December 31 inventory:
= Inventory in hand as per physical count + Goods purchased from P corporation under FOB shipping basis + Cost of goods sold to A company under FOB destination basis
= $216,300 + $22,720 + $19,770
= $258,790
Therefore, the amount to be reported by Bramble company is $258,790.