Answer:
On November 27
Debit Retained earnings $12,750
Credit Dividend payable $12,750
<em>(To record the dividend declared)</em>
On December 24
Debit Dividend payable $12,750
Credit Cash $12,750
<em>(To record dividend paid) </em>
Explanation:
- Dividends on gains on shares bought by the shareholders. They arise due to appreciation in share price and improvement in company's net income.
- The dividend payable was calculated as $.5 x 25,500 shares = $12,750.
- Dividends are usually paid out of retained earnings.
- The dividend payable account is debited when payment is to be made.
Correct/Complete question: A bank loan officer thinks people who speak with an accent are lazy; consequently, he refuses to grant them loans. The loan officer's belief is an example of _____ . His refusal to grant them loans is an example of _____.
a. stereotyping; attribution
b. attribution; stereotyping
c. discrimination; prejudice
d. prejudice;discrimination
Answer:
d, prejudice; discrimination
Explanation:
Prejudice is a preconceived opinion about a person or group of persons or race, tribe that has no basis, least of all experience with such persons or group of persons. It is what the bank loan officer has for people with accent.
Discrimination of the other hand is the denial of an opportunity or good or service based on prejudice.
An example of prejudice is 'Blondes are dumb.' Because one person had a dealing with a blonde and she turned out to be dumb, it became a general opinion formed by people through the years and any/every blonde is seen as dumb by default.
Failurre to give a blonde haired applicant a job becasue of her hair colour is discrimination.
I hope this helps. Happy holidays.
Answer:
B) 3 scarves
Explanation:
total fixed costs per day = $60 (rent)
selling price per scarf = $40
variable cost per scarf = $15
contribution margin = selling price per unit - variable cost per unit = $40 - $15 = $25
break even formula in units = total fixed costs / contribution margin = $60 / $25 = 2.4 units, since you can only sell complete units, the break even amount is 3 scarves.
Answer: See explanation
Explanation:
1. Calculate the first year's net earnings under the cash basis of accounting, and the first year's net earnings under the accrual basis of accounting.
The first year's net earnings under the cash basis of accounting will be:
Service revenue = $23400
Less: Expenses = $14310
Net income = $9090
The first year's net earnings under the accrual basis of accounting will be:
Service revenue = $29500
Less: Expenses = $15500
Net income = $14000
2. Which basis of accounting (cash or accrual) provides more useful information for decision-makers?
It should be noted that the accrual basis of accounting gives decision makers more useful information. This is due to the fact that the decision makers will probably want to know the revenue and the expenses that were incurred for a particular period and every other necessary details.
Answer:
It is taking the IRS more than 21 days to issue refunds for some 2020 tax returns that require review including incorrect Recovery Rebate Credit amounts, or that used 2019 income to figure the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC).