Answer:
Debit : Dividend $1,000
Credit : Cash $1,000
Explanation:
The Journal entry to record dividend payment include a Debit to Dividend Account and a Credit to Cash Account to depict the outflow of cash.
Answer:
The major attraction of S corporations is that they avoid the problem of double taxation
Explanation:
Am S corporation is also called a small enterprise corporation that providers liability protection for its owners.
The business is considered.to.ba an independent entity, so if the corporation is liable to pay a judgement sum the owners will not be asked to use their personal funds to repay.
One key feature.os S corporation is that tax is passed along. The tax to be paid by the business is transfered to the owners.
So taxis only paid once. This avoids double taxation where the business is taxed and owner also taxed.
Answer:
The correct answer is (C) lines of credit accessible with credit cards.
Explanation:
It is important to recognize that demand deposits are not automatically part of the money supply by virtue of their own existence; they continue to be equivalent to money as long as the subjective estimates of the sellers of goods in the market think they are so equivalent and accept them as such in return.
All economists, of course, include standard money in their money supply concept. The rationale for including demand deposits is that people believe that these deposits can be exchanged in standard sight money, and therefore treat them as equivalent, accepting the payment of demand deposits as a substitute for payment. cash. But if demand deposits must be included in the money supply for this reason, it follows that any other entity that follows the same rules must also be included in the money supply.
Answer:
The correct option is B
$400 unfavorable
Explanation:
Material quantity variance occurs when the actual quantity used to achieved a given level of output is more or less than the standard quantity.
It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price
pounds
Standard quantity allowed (5 × 1000) 5,000
Actual quantity <u> 5,200</u>
200 unfavorable
Standard price <u>×$2</u>
The quantity variance ($) <u>$400</u>unfavourable
