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MAVERICK [17]
3 years ago
9

On July 1, Jerome received $200 in dividends from Melina Corporation on which it owns less than 20% of the voting stock. Complet

e the necessary journal entry selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.
Business
1 answer:
marishachu [46]3 years ago
8 0

Answer:

Journal Entry

July 1,

Debit      Cash / Bank                            $200

Credit     Dividend Received (Income) $200

Explanation:

All the investments below 50% have non controlling interest in the company in which they invested. Such a investment is recorded as a fixed asset if investment is made for long term. Dividedn received fro here will be considered as the Dividend income which is recorded and shown on the Income statement with other Income.

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jones enterprises was started when it acquired $6,000 cash from creditors and $10,000 from owners. the company immediately purch
Kobotan [32]

Answer:

The answer of each requirement is given below.

A.) record the events under an accounting equation

Accounting equation is given below.

Asset = Equity + Liability

Land + Cash = Equity + liability

12,000 + 4000 = 10,000 + 6,000

16,000 = 16,000

B.) After all events have been recorded, Jones's obligations to creditors represent what percent of total assets

Percentage = 6,000/16,000*100 = 37.5%

C.) after all events have been recorded, Jones stockholders equity represents what percent of total assets?

Equity percentage = 10,000/16,000* 100 = 62.5%

D.) assume the debt is due. given that jones has $10,000 in stock holders' equity can the company repay the creditors at this point? why or why not

No, the company will not be able to pay debt as the company has acquired land of 12,000 dollars and has only 4,000 dollars in liquid form.

4 0
3 years ago
hich of the following statement is CORRECT? A. A sunk cost is any cost that must be expended to complete a project and bring it
lbvjy [14]

Answer

D. A sunk cost is any cost that was expended in the past but can be recovered if the firm decides not to go forward with the project.

Explanation:

As per the data given in the question,

Option (D) is correct among the given statements. A sunk cost is that cost which was occurred and expended in the past and if firm decides to do not go ahead, it can not be recovered.

For illustration - Think about the cost incurred to find out the feasibility of the project. Though in past firm was agree with the project but now even if the firm decides not to the project, this cost can not be recovered.

8 0
3 years ago
Which of these savings/investing options has the highest risk
Pavlova-9 [17]

Answer:

STOCKS

Explanation:

US government bond is a government security, therefore the government print more money to pay those who invest in it.

In addition bondholders are creditors of a corporation.

Stockholders, are part owners of a company. In case of bankruptcy, bondholders are given priority.

Savings accounts are protected by the Federal Deposit Insurance Corporation (FDIC) provisions.

Money market accounts are a safe investment because they are insured by the FDIC.

Therefore the investment option that has the highest risk is stocks.

7 0
3 years ago
Which best describes the Business, Management, and Administration career cluster? These are careers that are focused on running
umka21 [38]

Answer:

These are careers that are focused on running businesses.

Explanation:

The business management and administration career cluster are careers that are focused on the running of businesses. What it does is to help students prepare for effective and good careers on the processes of running good and productive businesses. It has several career pathways to follow in achieving this.

3 0
3 years ago
Read 2 more answers
Having fewer customers in business markets in comparison with consumer markets:
Gemiola [76]
<span>Having fewer customers in a business market can be a positive, since it allows for the business to get to know those customers they do serve more closely and allows them to better cater to their needs. However, it can also be a negative because it makes every transaction with a customer vital to the overall bottom line and the vitality of the business.</span>
8 0
3 years ago
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