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nadya68 [22]
2 years ago
5

In Dart Co.'s Year 2 single-step income statement, as prepared by Dart's controller, the section titled "Revenues" consisted of

the following:Sales $250,000Purchase discounts 3,000Recovery ofaccounts written off 10,000Total revenues $263,000In its Year 2 single-step income statement, what amount should Dart report as total revenues?A. $253,000B. $250,000C. $263,000D. $260,000
Business
1 answer:
Amanda [17]2 years ago
8 0

Answer:

  • what amount should Dart report as total revenues?

B. $250,000

Explanation:

The option B is the answer because the others option are not part of revenues during the year to the single step income.

The recovery of accounts written off are not part of revenues, it's an adjustment to the allowance for uncollectible accounts.

Then, the Purchase discounts is not part of revenues either, this kind of discounts goes directly to the valuation of inventory and then to the cost of goods.

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(Cash dividends) Marshall Pottery Barn is a privately owned importer of Mexican pottery and garden supplies. The firm plans on p
zhannawk [14.2K]

Answer:

A.The impact on the balance sheet after the payment of the dividends is a reduction in current asset-cash by $8580 as well as a drop in equity-specifically retained earnings by the same amount.

B.Total assets (book and market values) will decrease by $8580 and equity and liabilities on the other hand will also reduce by $8580.

A.The accounting entries in respect of the dividend payment will be :

Debit Retained earnings $8580

Credit Cash                                       $8580

Explanation:

The dividends of $1.43 gives $8580 in total i.e $1.43*6000 shares

The impact of the dividend payment will be in terms of reduction in cash available for daily operations and reduction in funds attributable to shareholders.

3 0
3 years ago
Under _________dividend reinvestment plan, the company gives any cash dividends that investors would have received in a bank, wh
ankoles [38]

Answer:

Old Stock

Explanation:

The Dividend Reinvestment Plan is a platform where investors or shareholders in a company, reinvest the dividends they gained into more shares sold by the same company, most times without having to pay commissions.

Under the <em>Old stock dividend reinvestment plan, </em>an outside trustee, that is, a member of the board who is not an officer in the company, repurchases the company's existing shares in the stock market and then allocates the shares purchased among the stockholders. They sell the shares at market price. Most times, in order to encourage shareholders participation the company making the repurchase takes care of the commission fees.

8 0
2 years ago
All of the following are alternative forms of institutional advertisements EXCEPT:
forsale [732]

Answer: B. Public Service

Explanation:

There are 4 alternative forms of institutional advertisements being;

  1. Competitive - These types of adverts aim to show that the product presented is better than that of the competitor by showcasing its benefits and features.
  2. Reminder - As the term implies, this advertisement is meant to remind you. Remind you of the product being offered and how it has been beneficial to you.
  3. Pioneering - This is for products that are just starting out and need to be introduced to inform the market of its existence.
  4. Advocacy - These focus on telling the audience the position a company has on an issue.

These are the four alternative forms of institutional advertisements and Public Service is not one of them.

4 0
3 years ago
_________ is the managerial process of creating and maintaining a fit between an organization's objectives and resources and the
insens350 [35]

Answer:

Strategic planning

Explanation:

6 0
2 years ago
Drury corporation needs to raise $ 2 comma 300 comma 000. the corporation plans on selling 100 comma 000 shares of $ 23 par valu
ad-work [718]

Net Income before Sale of Shares........................................................$1800000

Additional Income due to sale of shares.............................................$400000

Total Net Income........................................................................................$2200000

Income [email protected]%.........................................................................................($660000)

Net Income After Tax..................................................................................1540000

Total No of Shares.........................................................................................260000

Earning Per Share(Net Income After Tax/No of Shares)......................$5.92

8 0
2 years ago
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