The portion of corporate profit which is included in personal income is DIVIDEND.
Dividend refers to the sum of money that is usually paid on a regular basis by a company to its shareholder. Dividend represents the part of the profit which a company make in a particular year.
Dividend is considered as a personal income to the individual who receives it.
Answer:
The journal entry to record direct labor for Department A and Department B would include None of these choices are correct.- d.
Answer:
c.$538,685
Explanation:
Calculation to determine what Scarbrough will receive and record cash of
Receivables $600,000
Less: Amount of the hold back ($30,000)
($600,000 x 5%)
Less: Withheld as fee income ($18,000)
($600,000 x 3%)
Less: Withheld as interest expense ($13,315)
($600,000 × 15% × 54/365)
Cash $538,685
Therefore Scarbrough will receive and record cash of: $538,685