Answer:
$140 million
Explanation:
Given that,
Ending Retained Earnings = $1,140 million
Beginning Retained Earnings = $1,200 million
Net Income = $80 million
Ending Retained Earnings = Beginning Retained Earnings + Net Income - Dividends
$1,140 million = $1,200 million + $80 million - Dividends
Dividends = $1,200 million + $80 million - $1,140 million
= $140 million
Therefore, the dividend of $140 million were paid to shareholders during the year.
Answer: Option C
Explanation: The given question relates to the concept of time value of money which in simple words states that the value of money decreases over time. The value of a dollar today will be less than tomorrow.
Hence if a card holder gets grace period to pay the interest before the interest accrues than it means he actually gets to pay lower interest that he could have paid before.
Hence from the above we can conclude that the correct option is C.
B. As an addition to the face amount of the bonds
Answer:
Total needed= $2,700,000
Explanation:
Giving the following information:
The deficit for the first year of retirement, 10 years from now, is $90,000. He expects to be in retirement for 30 years and believes he can earn a 7% after-tax annual return on invested dollars. Inflation is expected to average 4% annually over this same period.
Real rate= 7 - 4= 3%
Total needed= 90,000*30= 2,700,000
Answer:
A) Dr. Encumbrances – Office supplies No entry
Cr. Encumbrances outstanding
Explanation:
The journal entry is given below;
For Governmental fund financial statements
Encumbrances-Office Supplies $1,500
To Encumbrances Outstanding $1,500
(Being Office Supplies ordered is recorded)
For Government-wide financial statements
No journal entry is required as under the accrual accounting, no entry should be recorded until the transaction does not arise
Therefore the option a is correct
