Answer:
yes
Explanation:
they are both professionals and either of their opinions/ suggestions would have been good, but if they both agree it's even better
Answer:
$214,000
Explanation:
Total Revenues ($740,000 + $103,000) =$843,000
−Total Operating costs ($570,000 + $59,000)
=$629,000
= Total operating profit = $214,000
Therefore Assuming that there are no changes to the existing body shop business, operating profits would be expected to increase during 2021 by $214,000
Answer:
May 20
No Entry
June 14
Dr. Dividends $255,000
Cr. Dividend Payable $255,000
July 14
Dr. Dividend Payable $255,000
Cr. Cash $255,000
July 31
Dr. Retained Earnings $255,000
Cr. Dividend $255,000
Explanation:
Dividend = $0.5 x 510,000 = $255,000
May 20
Dividend is declared, No entry is required
June 14
Dividend to be recorded on this date. As dividend is not paid yet so it will be recorded as payable and on the other hand dividend account is debited to make a contra capital account of dividend.
July 14
Dividend is paid as cash is paid so, it will be credited and the liability is reduced so, it will be debited.
July 31
At the end of the period we have to adjust the Dividend Contra capital account in retained earning to make the dividend account zero.
Answer:
Future Value= $4,189.30
Explanation:
Giving the following information:
Investment= $700 annual
Interest rate= 9%
Frances decides that she will continue to do this for the next 5 years.
To calculate the final value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {700*[(1.09^5)-1]} / 0.09
FV= $4,189.30