All categories

3 years ago

Concord Company pays cash dividends of $670. The entry for this transaction will include a debit of $670 to

Business

1 answer:

kow [346]3 years ago

4 0

Answer:

c. Dividends

Explanation:

Whenever, dividends are recorded as a liability then that amount is charged against retained earnings, but the final entry for payment of dividend =

Dividend A/c Dr. $670

To Cash A/c. $670

Also at the time of recording as an expense, entry will be

Retained Earnings A/c Dr. $670

To Dividend A/c $670

Since retained earning balance will be reduced and finally cash balance will also be reduced.

Therefore, entry for payment will include debit to

c. Dividends

You might be interested in

Select which government was granted each of the powers listed. Coining of money Fire and police protection Schools Army and Navy

Rashid [163]

Answer:

Coining of money: FEDERAL GOVERNMENT
Fire and police protection: STATE GOVERNMENT
Schools: STATE GOVERNMENT
Army and Navy: FEDERAL GOVERNMENT
Treaties with other nations : FEDERAL GOVERNMENT
Highways and roads: STATE GOVERNMENT
Local courts: STATE GOVERNMENT

3 0

3 years ago

The following monthly data are available for Coronado Industries. which produces only one product: Selling price per unit, $38;

In-s [12.5K]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Selling price per unit= $38

Unit variable expenses= $14

Total fixed expenses= $42,000

Actual sales for June= 3000 units.

First, we need to calculate the break-even point in dollar using the following formula:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 42,000/ [(38 - 14)/38]

Break-even point (dollars)= $66,500

Now, we can calculate the margin of safety in dollars:

Margin of safety= (current sales level - break-even point)

Margin of safety= (3,000*38 - 66,500)

Margin of safety= (114,000 - 66,500)

Margin of safety= $47,500

5 0

3 years ago

The financial statements of Flathead Lake Manufacturing Company are shown below. Income Statement 2017 Sales $ 9,300,000 Cost of

Nina [5.8K]

Question attached

Answer and Explanation:

Answer and explanation attached

4 0

3 years ago

A local newspaper devotes its New Year's Day issue to people who have performed heroically during the past year. One of the peop

Wittaler [7]

Answer:

PRIVACY RIGHT of a person or an individual

does not allow giving a person which is the plantiff a publicity that are unnecessary based on that person private life unless if the plantiff information they want to write about is important to the article.

Explanation:

Based on the information given we were told

that Janet was included in a local newspaper

for the people who have performed heroically in which the article stated that she had been unable to find work due to burns to Janet hands and her feet which in turn makes Janet to sued the newspaper for the invasion of her privacy.

Therefore how the case should be decided is that the PRIVACY RIGHT of a person or an individual does not allow giving a person which is the plantiff a publicity that are unnecessary based on that person private life unless if the plantiff information they want to write about is important to the article.

8 0

3 years ago

Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4 tables or 20 chairs, where San

mylen [45]

C 5 tables for mike and 1/3 table for sandy

3 0

3 years ago