Stew Beauf is a self-employed surfboard-maker in 2019. His Schedule C net income is $144,400 for the year. He also has a part-ti
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Answer:
$4,000
Explanation:
It is provided that preference shares are cumulative in nature, that means even if dividend is not paid in current year, the dividend get accumulated.
The net dividend payable to preference capital = 500 shares @ $10 each share = $5,000
Therefore, total dividend of preference shareholders for all the three years = $5,000 3 = $15,000
Total dividend paid till date = $3,000 + $6,000 + $10,000 = $19,000
Therefore, dividend to equity in 2014 = $19,000 - $15,000 = $4,000
Because even if dividend to preference in 2012 was $3,000, the remaining $2,000 would be carried forward.
And before any dividend to equity, first dividend shall be paid to preference and also no dues of preference dividend shall remain in balance.
Answer:
COGS 3807 debit
FG 7896 debit
WIP 2397 debit
Factory Overhead 14,100 credit
--to record the underapplication of overhead--
Explanation:
overhead rate:
$515,000 overhead / 515,000 labor cost = $1
each labor cost generates a dollar of overhead.
221,400 x 1 = 221,400 overhead in COGS
459,200 x 1 = 459,200 overhead in Finished Goods
139,400 x 1 = 139,400 overhead in WIP inventory
Total applied 820,000
Actual 805,900
Underapplied 14,100
Now we weight each concept and determiante the portion underapplocated in each concept