Answer:
c) $25,000
Explanation:
A property dividend should be recorded in retained earnings at the property's <u>market value at date of declaration.</u>
<u>The date of declaration is the date on which the firm has made the commitment to pay the dividend. The market value on this date is the value that was considered when the board made the decision to distribute a property dividend and thus is the appropriate measure of the sacrifice to the firm.
</u>
<u>
</u>In application to the scenario, <u>the property dividend will be recorded in retained earnings at the market value at the date of declaration which is Jan 15 </u>NOT on the day it is payable.
Hence, retained earnings will reduce by $25,000
In 20X5, Elm Corp. bought 10,000 shares of Oil Corp. at a cost of $20,000. On January 15, 20X6, Elm declared a property dividend of the Oil stock to shareholders of record on February 1, 20X6, payable on February 15, 20X6. During 20X6, the Oil stock had the following market values:
January 15
$25,000
February 1
26,000
February 15
24,000
Answer:
$607
Explanation:
Data provided in the question:
Date of closing of sales transaction = April 15
Expected tax for the year = $2,110
Number of days in an year = 365
Now,
Per day tax = [ Expected tax for the year ] ÷ [ 365 ]
= $2,110 ÷ 365
= $5.781 per day
Time period from January 1 to April 15 in days = 105 days
Therefore,
The seller's share of the tax bill
= Per day tax × Time period from January 1 to April 15 in days
= $5.781 × 105
= $606.98 ≈ $607
Answer:
A. Culture
Explanation:
Culture is very important and is reflective of how people communicate and etc. For example, the big business setting in China differs from America, so you would want to know how to be respectful of their culture. In China, when giving and receiving business cards, you have to accept it with two hands, not one hand. Failure to do so will cause you to look rude!
I hope this helps clear things up!
I think this is an example of self-serving bias. This is the tendency of people to attribute positive outcomes to personal factors, but attribute negative outcomes to external factors such as other people. The reason people have this tendency because personalizing success or positive outcomes helps their self-esteem.