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statuscvo [17]
3 years ago
14

Aztec Company reports current E&P of $200,000 in 20 X 3 and accumulated E&P at the beginning of the year of negative $10

0,000. Aztec distributed $300,000 to its sole shareholder on January 1, 20X3. How much of the distribution is treated as a dividend in 20X3?
Business
1 answer:
kondaur [170]3 years ago
3 0

Answer:

How much of the distribution is treated as a dividend in 20X3?

100000

Explanation:

E&P CURRENT       200000

E&P ACCUMULATE -100000

Dividend                   100000

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Curtain Co. paid dividends of $10,000, $12,500, and $14,000 during Year 1, Year 2, and Year 3, respectively. The company had 2,1
4vir4ik [10]

Answer:

Total amound paid to shareholder in 3rd year = $1850

Explanation:

Below is the calculation:

Total dividend paid = 1st year divident  + 2nd year divident + 3rd year dividend

Total dividend paid = $10000 + 12500 + 14000

Total dividend paid = $36500

Total preferred dividend = (2100 x 100) x 5.5% x 3

Total preferred dividend = $34650

Total amount of dividend paid to shareholder during 3rd year = 36500 - 34650 = $1850

Total amound paid to shareholder in 3rd year = $1850

8 0
3 years ago
The Manda Panda Company uses the allowance method to account for bad debts. At the beginning of 2018, the allowance account had
amid [387]

Answer:

a. Does this situation describe a loss contingency? Explain.

Allowance for doubtful accounts are a loss contingency since they mar or may not happen, but the company has to account for them.

b. What is the bad debt expense that Manda Panda should report in its 2018 income statement?

total bad debt expense = total sales x 3% = $3,150,000 x 3% = $94,500

c. Prepare the appropriate journal entry to record the contingency.

Dr Bad debt expense 94,500

    Cr Allowance for doubtful accounts 94,500

d. What is the net realizable value (book value) Manda Panda should report in its 2018 balance sheet?

ending balance of accounts receivable = $537,500 - $94,500 = $443,000

5 0
3 years ago
Zink Co.’s defined benefit pension plan had plan assets with a fair value of $325,000 at December 31, 2013, and of $375,000 at D
Vadim26 [7]

Answer:

$ 70,000

Explanation:

Beginning plan assets = $ 325,000

Contribution to the plan = $ 130,000

Thus, the total assets available = $ 325,000 + $ 130,000 = $ 455,000.

Now,

The assets distributed = $150,000

Therefore,

the balance left after distribution = total assets available - assets distributed

or

the balance left after distribution = $ 455,000 - $ 150,000 = $ 305,000

Also,

the actual ending balance = $ 375,000

Hence, the difference of the balance left after distribution and the actual ending balance represents the return on plan assets.

therefore,

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8 0
3 years ago
I need hElP!11!!rlelrdwf
Afina-wow [57]

Answer:

Building and construction

Explanation:

5 0
3 years ago
Which of the following statements about GDP is correct? a. Nominal GDP values production at current prices, whereas real GDP val
bagirrra123 [75]

Answer:

Real GDP @ Constant Prices , Nominal GDP @ Current Prices

Explanation:

GDP is sum total of gross value of goods produced by an economy in its domestic territory during a given period of time (financial year) .

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4 0
3 years ago
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