Answer:
Explanation:
The adjusting entry is shown below:
Cash Dividend A/c Dr $500,000
To Dividend payable $500,000
(Being dividend is declared)
The dividend amount is computed below:
= Number of shares held × cash dividend per share
= 100,000 shares × $5
= $500,000
As dividend is declared so we debited the cash dividend account and credited the dividend payable as it is a current liability
Answer: Option (d) is correct.
Explanation:
Correct option: For the 10th worker, the marginal revenue product is $120 per day.
If she hires 9 workers then the store can sell 200 pounds of produce per day
If she hires 10 workers then the store can sell 230 pounds of produce per day
Extra units produce from hiring 10th worker = 230 - 200 = 30 pounds of produce per day
Store earns = $4 for each pound
Therefore, the marginal revenue product for the 10th worker = selling price of each pound × Extra units produce from hiring 10th worker
= $4 × 30
=$120
Not guarantee that resources will be allocated efficiently nor that there will be equality.
Answer:
$12.60
Explanation:
The computation of the current value of the stock is shown below:-
= $1.40 × (1.08) ÷ 1.16 + 1.40 × (1.08)^2 ÷ (1.16)^2 + 1.40 × (1.08)^3 ÷ (1.16)^3 + 1.40 × (1.08)^3 × (1.03) ÷ (0.16 - 0.03) × (1.16)^3
= $1.3034 + $1.2136 + $1.1299 + $8.9520
= $12.60
Therefore for computing the current value of stock we simply solved the above equation.
Answer:
The interest expense is $521
Explanation:
The amount of interest expense for the fiscal year is the interest expense of 31 days which ,in other words the interest incurred only in the month of July ,calculated thus:
interest expense=days in the month/360days*interest rate*loan amount
interest expense=31/360*10%*$60,500=$ 521
The interest expense for the current fiscal year rounded to the nearest dollar amount is $ 521
