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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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Answer: (d.)The bakery faces a flat demand curve.

Explanation:

The bakery faces a flat demand curve  because a firm in a perfectly competitive market is a price taker and the demand curve for a firm is equal to the price  the supply curve is a part of Marginal cost above Average variable cost , so the supply curve is upward sloping . The bakery is in the perfectly competitive market so it can earn positive, negative or zero economic profit in the short run and zero economic profit in the long run.

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3 years ago
In order to show disparate-treatment discrimination, a person must show that she or he is a member of a______class, applied for
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Answer:

i AM SORRY BUT I DONT UNDERSTAND WHAAT YOU ARE TRYING TO SAY TRY TO MAYBE REWORD IT (SORRY FOR THE CAP LOCK)

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The basic summary device of accounting is the
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3 years ago
An investor purchased 100 shares of stock X at \small 6\frac{1}{8} dollars per share and sold them all a year later at 24 dollar
Salsk061 [2.6K]

Answer:

option (C) 280%

Explanation:

Number of shares of stock X purchased = 100

Purchasing cost of share = \$6\frac{1}{8} =\frac{49}{8}

Selling cost of stocks = $24 per share

Brokerage paid = 2%

Now,

The total purchasing cost involved = 100\times\frac{49}{8} + 2% of 100\times\frac{49}{8}

= 612.5 + 0.02 × 612.5

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also,

Total income from sales of stocks

= Total selling cost of shares - brokerage paid

= $24 × 100 - 2% of Total selling cost

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= $2400 - $48

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now,

The investor's percent gain on this investment = \frac{\textup{Income-invested amount}}{\textup{Invested amount}}\times100\%

= \frac{\textup{2,352 - 624.75}}{\textup{624.75}}\times100\%

= \frac{\textup{1727.25}}{\textup{624.75}}\times100\%

= 276.47% ≈ 280%

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3 years ago
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