The intended audience for the memo is <u><em>all company employees</em></u>. The tone of the memo should be <em><u>formal</u></em>. Finally, the purpose of the memo is <u><em>to make sure employees understand and follow the updated dress code</em></u>.
Answer:
Incorrect Statement about the Statement of Cash Flows:
c. The cash dividends of $201,000 paid will be reported as a cash outflow in the cash flow from investing activities section.
Explanation:
Cash dividends of $201,000 will be reported as a cash outflow in the financing activities section and not the investing activities section.
Statement of Cash Flows is broadly divided into three, the operating, investing, and financing activities sections. The operating activities section show the cash flows from the normal business of the enterprise. The investing activities section shows the acquisition and disposal of investments made by the company in cash. While, the financing section shows the inflow and outflow of cash resulting from the funding of the business by stockholders and noncurrent creditors.
Answer and Explanation:
The journal entry to record the given transaction is as follows
Retained earning Dr (0.30 million × $54) $16.2 million
To Common stock (0.30 million × $1) $0.3 million
To Additional paid in capital in excess of par (0.30 million × $53) $15.9 million
(Being the stock dividend is declared)
The computation of the shares after declaring the dividend is
= 30 million × 1%
= 0.30 million
Answer:
D. $934,500.
Explanation:
FIFO Method:
170 x $870 = 147,900
270 x $970 = 261,900
370 x $1,070 = 395,900
115 x $1,120 = 128,800
Hence, Total Cost of Goods Sold for 925 Laptop Computers will be $934,500.
